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Y127.10 Support Key Today *RES 4:....>

EURO-YEN TECHS
EURO-YEN TECHS: Y127.10 Support Key Today
*RES 4: Y129.51 Low May 16 now resistance
*RES 3: Y129.12 21-DMA
*RES 2: Y129.05 200-WMA
*RES 1: Y128.53 High May 28
*PRICE: Y128.17 @ 0430GMT
*SUP 1: Y127.56 Hourly support June 4 
*SUP 2: Y127.10 Low June 1 
*SUP 3: Y126.22 Hourly support May 30 
*SUP 4: Y125.71 Hourly support May 30a
*COMMENTARY: The failure to gain traction below the 100-WMA (Y125.15) and
confirm the break of Y125.80 resulted in a bounce Wednesday and a continuation
Thursday/Friday. Correcting O/S studies add support to the case for a correction
back to Y128.53-129.51 where the 21-DMA & 200-WMA are noted. Bears now look for
a close below Y127.10 to return initial focus to 2018 lows. Bears need a close
below the 100-WMA (Y125.32) to retain bearish momentum.

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