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EURO-YEN TECHS: Y127.10 Support Key This Week
*RES 4: Y129.65 Hourly support June 13 now resistance
*RES 3: Y129.26 Alternating hourly support/resistance
*RES 2: Y128.64 Hourly resistance June 14
*RES 1: Y128.00 Hourly support June 19 now resistance
*PRICE: Y127.56 @ 0430GMT
*SUP 1: Y127.10 Low June 1
*SUP 2: Y126.22 Hourly support May 30
*SUP 3: Y124.61 2018 Low May 29
*SUP 4: Y123.63 Low June 21 2017
*COMMENTARY: Continued hesitation ahead of the 55-DMA (Y130.31) and
Y130.31-132.59 where key DMAs, WMAs and the daily bear channel top are situated
combined with O/B studies looking to correct provided the impetus for a sharp
sell-off that shifted overall focus back to 2018 lows. Bears now need a close
below Y127.10 to add weight to their case. Bulls now need a close above Y128.64
to gain breathing room and above 129.65 to pressure the 55-DMA once again.