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Y130.45-Y130.55 Now Provides.........>

EURO-YEN TECHS
EURO-YEN TECHS: Y130.45-Y130.55 Now Provides Resistance To Near Term Recovery
*RES 4: Y131.35 Sep 1 high
*RES 3: Y130.71 Aug 31 low, Sep 4 high
*RES 2: Y130.71 Aug 31 low, Sep 4 high
*RES 1: Y130.45/55 Hourly congestion Sep 4
*PRICE: Y130.33 @0849GMT
*SUP 1: Y129.60/65 Hourly support
*SUP 2: Y129.27/37 1% volatility band, Sep 5 low
*SUP 3: Y129.15/19 61.8% of Y127.56-Y131.71, Aug 22 high
*SUP 4: Y128.54 76.4% Fibo of Y127.56-Y131.71
*COMMENTARY* Undergoing some correction of last month's Y127.56-Y131.71 rise.
Tuesday's loss of Y130.14 giving the downside some further impetus, a low of
Y129.37 recorded before some hourly oversold conditions came to the fore. Still
requires a move back above Y130.45-55 however, before any real confidence in a
recovery will appear. Through here and Y130.71 then the next barrier to cross.
Below Y129.37 and the correction continues, Y129.19-Y128.54 next.

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