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Topside Failures A Concern *RES 4:...>

EURO-YEN TECHS
EURO-YEN TECHS: Topside Failures A Concern
*RES 4: Y132.39 200-DMA
*RES 3: Y131.41 21-DMA
*RES 2: Y131.37 High May 14
*RES 1: Y131.25 55-DMA
*PRICE: Y130.37 @ 0930GMT
*SUP 1: Y129.91 Hourly support May 9 
*SUP 2: Y129.67 Hourly support May 9 
*SUP 3: Y129.19 200-WMA 
*SUP 4: Y128.94 2018 Low Mar 23
*COMMENTARY: Despite day studies correcting from O/S and adding support to the
case for a bigger correction, bears take comfort in the hesitation around the
55-DMA. The topside failure around the 55-DMA now sees focus back on the break
of Y129.91 needed to reconfirm immediate focus on 2018 lows. Bulls now need a
close above the 21-DMA to add to ease bearish pressure and above the 100-DMA
(Y132.63) to shift focus to Y133.48-134.10.

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