Still Faces Congested Resistance.....>

EURO-YEN TECHS: Still Faces Congested Resistance Within The Y136's

*RES 4: Y136.88 4 month bull channel top projection

*RES 3: Y136.53/64 1% volatility band, Jan 5 high

*RES 2: Y136.10 Jan 15 high

*RES 1: Y135.85/90 Hourly resistance

*PRICE: Y135.58 @1019GMT

*SUP 1: Y135.20 Hourly support

*SUP 2: Y134.93/98 38.2% of Y133.05-Y136.10, Jan 16 low

*SUP 3: Y134.58 Hourly low Jan 12, 50% of Y133.05-Y136.10

*SUP 4: Y134.16/22 Initial high Jan 12, 61.8% Fibo

*COMMENTARY* Found support from the dual Y133.05-Y133.10 area last Thursday.

Mainly due to a bounce from the 5 month rising support line. The subsequent

rally back through Y134.20-Y134.56 began a correction of recent losses from the

Jan 5 high at Y136.64, Monday's rise through Y135.79 once again sees the topside

focus on still congested resistance from between Y136.10-Y136.88. Will need to

escape the latter before real confidence will grow. Support Y135.20-Y134.93.