Y130.25-Y130.53 Can Provide The......>

EURO-YEN TECHS: Y130.25-Y130.53 Can Provide The Next Upside Target Zone

*RES 4: Y131.38 May 14 high

*RES 3: Y131.06 50% Fibo of Y137.51-Y124.62

*RES 2: Y130.53 2% volatility band

*RES 1: Y130.25/28 Hourly resistance, intraday high

*PRICE: Y130.07 @1527GMT

*SUP 1: Y129.42/50 Hourly support

*SUP 2: Y128.96 Initial high Jun 6, now support

*SUP 3: Y128.70 Jun 4 high, now support

*SUP 4: Y128.30/35 Hourly congestion area Jun 4-Jun 5

*COMMENTARY* The recovery has been relentless, following last week's exhaustion

spike to the base of the 4 month bear channel. Now the rally moves through the

76.4% Fibo retrace level at Y129.78, some minor Y130.25 resistance in the way of

a look at the upper 2% volatility band at Y130.53 and perhaps Y131.06.

Meanwhile, Y129.50-Y129.42 provides support, loss of the latter would dent

recent upside momentum and suggest some deeper correction is due.