Y130.25-Y130.52 In Way Of Recovery...>

EURO-YEN TECHS: Y130.25-Y130.52 In Way Of Recovery Efforts

*RES 4: Y131.35 Congestion area Early March

*RES 3: Y131.02 Mar 14 low, now resistance

*RES 2: Y130.45/52 Hourly recovery high Mar 16, Mar 8 low

*RES 1: Y130.25 Hourly resistance

*PRICE: Y130.10 @0925GMT

*SUP 1: Y129.61/70 Intraday low, 1% volatility band

*SUP 2: Y129.35 Mar 5 low

*SUP 3: Y128.85 38.2% Fibo of Y114.85-Y137.51

*SUP 4: Y128.48 2% volatility band

*COMMENTARY* The failure last Tuesday to move through the 38.2% Fibo retrace

level at Y132.47, coupled with the upper 1% volatility band, has heaped problems

back on the downside. The fall below Y130.05 raising concerns, which has been

held at Y129.61 so far today, just below the lower 1% volatility band and above

the key Mar 5 low at Y129.35. For respite, will need to see a move back through

Y130.25-Y130.52. Below Y129.35 and look to Fibo level at Y128.85 next.