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Y128.53-Y128.54 The Bar To Further...>

EURO-YEN TECHS
EURO-YEN TECHS: Y128.53-Y128.54 The Bar To Further Recovery Potential
*RES 4: Y129.80 2 year bull channel base, now resistance
*RES 3: Y129.23 May 8 low, now resistance
*RES 2: Y128.88/06 May 24 high, recovery high May 23
*RES 1: Y128.53/54 May 25, intraday highs
*PRICE: Y127.85 @0836GMT
*SUP 1: Y127.40/45 Hourly support
*SUP 2: Y127.12/15 Equality fall from Y131.38, May 25 low
*SUP 3: Y127.00 2% volatility band
*SUP 4: Y126.29 1.618 swing of Y129.15-Y128.54
*COMMENTARY* Failed between Y131.36-Y131.38 resistance last week and
subsequently paid the price. The resultant fall has lost support from the 2 year
bull channel base and also the key Y129.23-Y128.85 area. A low of Y127.15 so
far, just above the equality fall target at 127.12. Oversold near term, look to
Y128.53-Y128.54 for initial resistance, Y128.88-Y129.06 above. Support rises to
Y127.45-Y127.40 and the 2% volatility band at Y127.00 provides protection lower.

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