Swing Target At Y127.90 Protecting...>

EURO-YEN TECHS: Swing Target At Y127.90 Protecting Downside At Present

*RES 4: Y130.05 Hourly recovery high May 23

*RES 3: Y129.54 2 year bull channel base, now resistance

*RES 2: Y129.23 May 8 low, now resistance

*RES 1: Y128.80 Hourly resistance

*PRICE: Y128.60 @0822GMT

*SUP 1: Y127.90/97 1.618 swing Y129.23-Y131.38, intraday low

*SUP 2: Y127.56/62 Aug 18 low, 2% volatility band

*SUP 3: Y127.12 Equality fall from Y131.38 to Y133.49-Y129.23

*SUP 4: Y126.18 50% Fibo of Y114.85-Y137.51

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

has subsequently paid the price. The resultant fall has lost support from the 2

year bull channel base at Y129.54 and also the key Y129.23-Y128.85 area. A low

of Y127.97 so far, as we head into near term oversold territory. In this regard,

look to Y128.80-Y129.23 for initial resistance, that Y129.54 above. Below

Y127.90 and next targets are set between Y127.56 and Y127.12.