Substantial Fall After Failure.......>

EURO-YEN TECHS: Substantial Fall After Failure Below Y131.36-Y131.38 

*RES 4: Y130.05 Intraday hourly recovery high

*RES 3: Y129.70 Initial intraday low, now resistance

*RES 2: Y129.53 2 year bull channel base, now resistance

*RES 1: Y129.15/23 Hourly resistance, May 8 low 

*PRICE: Y128.85 @1624GMT

*SUP 1: Y128.23 Intraday low

*SUP 2: Y127.90 1.618 swing of Y129.23-Y131.38

*SUP 3: Y127.81 2% volatility band

*SUP 4: Y127.12 Equality fall from Y131.38 to Y133.49-Y129.23

*COMMENTARY* Unable to move through Y131.36-Y131.38 resistance and has

subsequently paid the price. The resultant fall has today lost support from the

2 year bull channel base at Y129.53 and also the key Y129.23-Y128.85 area. A low

of Y128.23 so far, as we head into near term oversold territory. In this regard,

look to Y129.15-Y129.23 for initial resistance, Y129.53-Y129.70 above. Below

Y128.23 and next targets are set between Y127.90 and Y127.12.