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Y130.97-Y130.92 Support Becomes......>

EURO-YEN TECHS
EURO-YEN TECHS: Y130.97-Y130.92 Support Becomes Key To Near Term Direction
*RES 4: Y133.06 Feb 21 high
*RES 3: Y132.95 1.618 swing of Y132.02-Y130.52
*RES 2: Y132.44/53 Mar 13 high, 38.2% Y137.51-Y129.35, 1% vol
*RES 1: Y131.75/85 Hourly resistance
*PRICE: Y131.13 @0920GMT
*SUP 1: Y130.92/97 Hourly base Mar 6, Mar 12 low
*SUP 2: Y130.52 Mar 8 low
*SUP 3: Y130.05/10 Hourly congestion Mar 1-Mar 5
*SUP 4: Y129.91 1% volatility band
*COMMENTARY* Last Monday's bullish 'outside day' resulted in a Y132.02 rise,
before meeting resistance. The subsequent lower close then saw the appearance of
a potentially bearish 'Doji' candle at Tuesday's close. Tuesday's move back
above Y132.02 seeingly negates this but has been capped by the 38.2% Fibo
retrace level and upper 1% volatility band between Y132.47-Y132.53. Support from
Y131.70-Y131.25 has since been lost, putting near term onus on Y130.97-Y130.92.

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