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Still Facing Congested Resistance....>

EURO-YEN TECHS
EURO-YEN TECHS: Still Facing Congested Resistance Within The Y136's
*RES 4: Y136.91 4 month bull channel top projection
*RES 3: Y136.79 1.618 swing of Y136.10-Y134.98
*RES 2: Y136.53/64 1% volatility band, Jan 5 high
*RES 1: Y136.31 Intraday high
*PRICE: Y135.78 @1710GMT
*SUP 1: Y135.30/50 Hourly support
*SUP 2: Y134.98/02 Jan 16, Jan 15 lows
*SUP 3: Y134.58 Hourly low Jan 12
*SUP 4: Y134.35 Jan 11 high, now support
*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, now from between Y136.31-Y136.91. Will need
to escape the latter before real confidence will grow. Support Y135.50-Y135.30. 

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