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Testing Towards The Base Of Recent...>

EURO-YEN TECHS
EURO-YEN TECHS: Testing Towards The Base Of Recent Consolidation Range
*RES 4: Y133.50/53 Sep 22 low, hourly base Sep 22
*RES 3: Y133.12 Sep 29 high
*RES 2: Y132.84/89 Oct 4, Oct 3 highs
*RES 1: Y132.50 Hourly resistance
*PRICE: Y132.21 @0926GMT
*SUP 1: Y131.71/75 Aug 30 high, Sep 26 low
*SUP 2: Y131.51 76.4% Fibo of Y130.62-Y134.41
*SUP 3: Y131.17/30 1% vol band, 61.8% of Y129.37-Y134.41
*SUP 4: Y130.90 1.618 swing of Y131.75-Y133.12
*COMMENTARY* The rally failed at Y134.41 late last month, in line with a test to
the 61.8% Fibo retrace of the long term  Y149.80-Y109.51 fall. In the interim,
we have seen a loss of Y133.26 support, beneath which opened the prospect of a
deeper Y131.71-Y131.51 decline, as we correct the most recent gains from the Sep
14 low at Y130.62. Meanwhile, nearest resistance falls to Y132.84-Y133.12. Back
above the latter currently needed to break out of the recent consolidation.

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