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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play


(M2) Gains Still Considered Corrective

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Y132.32 Loss Would Suggest Scope.....>

EURO-YEN TECHS: Y132.32 Loss Would Suggest Scope For Y131.93-Y131.85 Pullback
*RES 4: Y134.12 1% volatility band
*RES 3: Y133.78 76.4% Fibo of Y134.50-Y131.46
*RES 2: Y133.34 61.8% Fibo of Y134.50-Y131.46
*RES 1: Y133.15 Nov 2 high
*PRICE: Y132.45 @1000GMT
*SUP 1: Y132.32 Hourly base Oct 31
*SUP 2: Y131.85/93 Hourly support, Initial high Oct 30
*SUP 3: Y131.41/46 Aug 2 high, Oct 30 low, 1% vol band
*SUP 4: Y131.03 50% Fibo of Y127.56-Y134.50
*COMMENTARY* Spent the better part of last week correcting some of the recent
Y134.50-Y131.46 losses. The latest rise through Y132.96-Y132.98 has seen a high
of Y133.15 so far, just ahead of the next Fibo retrace level at Y133.34. In the
meantime, support also changes slightly, Y132.32 initially and this currently
protects against a more sizeable pullback of the gains from that Y131.46 level. 

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