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Y127.28 Holds Fall, Y128.33 The......>

EURO-YEN TECHS
EURO-YEN TECHS: Y127.28 Holds Fall, Y128.33 The Bar To Fresh Y128.60 Test
*RES 4: Y129.48 76.4% Fibo of Y130.36-Y124.62, 1% vol band
*RES 3: Y128.94 61.8% Fibo of Y130.36-Y124.62
*RES 2: Y128.60 Jun 22 high
*RES 1: Y128.33 Hourly recovery high Jun 22
*PRICE: Y128.07 @1631GMT
*SUP 1: Y127.55/65 Hourly support
*SUP 2: Y127.28 Intraday low
*SUP 3: Y126.99/09 1% vol band, Jun 21, Jun 20 lows
*SUP 4: Y126.64 Jun 19 low
*COMMENTARY* The recovery from Y126.64 found it hard to deal with Y128.60
resistance, shy of a test into stronger Y128.94. As a result, became overbought
in the near term and today saw a dip below Y127.65-Y127.39 support. This put the
focus on the more important Y127.09-Y126.99 area. Loss would disappoint and
suggest the rally is over. Meanwhile, nearest Y127.75-Y128.10 resistance has
been overcome, leaving Y128.33 in the way of another look at Y128.60.

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