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Supported Ahead of 55-DMA For Now....>

EURO-YEN TECHS
EURO-YEN TECHS: Supported Ahead of 55-DMA For Now
*RES 4: Y129.82 Hourly resistance Aug 16 
*RES 3: Y129.49 Hourly resistance Aug 17a 
*RES 2: Y129.15 Hurly resistance Aug 17
*RES 1: Y128.47 Hourly resistance Aug 18
*PRICE: Y128.32 @ 0430GMT
*SUP 1: Y127.99 Low July 6 
*SUP 2: Y127.83 55-DMA 
*SUP 3: Y127.43 Low June 30 
*SUP 4: Y126.56 Low June 28
*COMMENTARY: The break of the 21-DMA and Y130.23 lacked follow through Wednesday
with the bearish close leaving the pair looking heavy with pressure on the
Y127.43-99 support region where the 55-DMA is located. Bears now look for a
close below Y127.43 to target Y124.70-125.80 where the 100-DMA (Y124.93) is
found. Layers of resistance are building with bulls now needing a close above
Y129.15 to ease immediate bearish pressure.

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