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Spurns The Opportunity To Cash In....>

EURO-YEN TECHS
EURO-YEN TECHS: Spurns The Opportunity To Cash In On A Y134.41 Break
*RES 4: Y135.70 4 month rising resistance line
*RES 3: Y134.77 1.618 swing of Y134.13-Y133.10
*RES 2: Y134.64 1.618 swing of Y133.50-Y131.66
*RES 1: Y134.41/50 61.8 of Y149.80-Y109.51, Oct 25 high
*PRICE: Y134.20 @0917GMT
*SUP 1: Y133.90/00 Hourly support
*SUP 2: Y133.75 Oct 25 low
*SUP 3: Y133.35 Initial rally high Oct 24, now support
*SUP 4: Y133.10 Hourly basing area Oct 19, Oct 23 low
*COMMENTARY* Unable to sustain a move above the Y134.41 Fibo level, above which
there is still the Y134.64-Y13.77 area to negotiate, before the upside becomes
free for an eventual challenge to the 4 month rising resistance line at Y135.70.
As a result, support moves higher, the Y134.00-Y133.75 range should now be able
to deal with any setbacks, if the rally is to continue at this stage. Loss would
disappoint now and put pressure back on Y133.35-Y133.10.

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