Y131.82-Y131.76 The Brake Against....>

EURO-YEN TECHS: Y131.82-Y131.76 The Brake Against A Deeper Correction

*RES 4: Y133.49 Apr 24 high

*RES 3: Y133.25/26 Apr 26, Apr 25 highs

*RES 2: Y132.87/90 Initial pullback Apr 24, Apr 25 low

*RES 1: Y132.55 Hourly resistance

*PRICE: Y132.37 @0840GMT

*SUP 1: Y131.76/82 38.2% Fibo, Apr 12 low, Mar 27 high

*SUP 2: Y131.22/32 50% Fibo of Y128.95-Y133.49, 1% vol band

*SUP 3: Y130.68 61.8% Fibo of Y128.95-Y133.49

*SUP 4: Y129.98/02 Apr 2 low, 2% vol band, 76.4% Fibo 

*COMMENTARY* Last Tuesday's Y133.49 high has been the zenith of the recovery so

far, subsequent rallies failed to trouble it and the loss of Y132.56 support

spoiled the look of recent upside momentum. The next real area of interest comes

from between Y131.82-Y131.76 and will need to hold here, if a deeper correction

of gains from the Mar 22 low at Y128.95, is to be avoided. A move back above

Y132.55 would assist initially, Y132.90-Y133.26 higher.