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Retreats After Test Toward 61.8%.....>

EURO-YEN TECHS
EURO-YEN TECHS: Retreats After Test Toward 61.8% Fibo Retrace Level
*RES 4: Y130.36 Jun 14 high, 5 month falling res line
*RES 3: Y129.48 76.4% Fibo of Y130.36-Y124.62, 1% vol band
*RES 2: Y128.85/94 Jun 25 high, 61.8% Fibo of Y130.36-Y124.62
*RES 1: Y128.45/50 Hourly resistance
*PRICE: Y128.27 @1549GMT
*SUP 1: Y127.65 Hourly support
*SUP 2: Y127.28 Jun 25 low
*SUP 3: Y126.91/09 1% vol band, Jun 21, Jun 20 lows
*SUP 4: Y126.64 Jun 19 low
*COMMENTARY* Monday saw another attempt to reach the 61.8% Fibo retrace level at
Y128.94, attaining a high of Y128.85 before retreating on the back of some
overbought hourly conditions. In this respect, support comes initially from
above Y127.65 and then yesterday's Y127.28 base. Main support however is located
between Y128.09-Y126.91. Loss would put Y126.64 back under pressure. Resistance
Y128.45-Y128.50 and then that Y128.94, being the gateway to Y129.48 next. 

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