Y132.90-Y133.12 Resistance Still.....>

EURO-YEN TECHS: Y132.90-Y133.12 Resistance Still The Bar To Any Recovery

*RES 4: Y133.85 Hourly congestion area Sep 22-25

*RES 3: Y133.50/53 Sep 22 low, hourly base Sep 22

*RES 2: Y133.12 Sep 29 high

*RES 1: Y132.90 Hourly resistance

*PRICE: Y132.31 @0808GMT

*SUP 1: Y132.09/19 Sep 27, Oct 2 lows

*SUP 2: Y131.71/75 Aug 30 high, Sep 26 low

*SUP 3: Y131.51 76.4% Fibo of Y130.62-Y134.41, 1% vol band

*SUP 4: Y130.90 1.618 swing of Y131.75-Y133.12

*COMMENTARY* The rally failed at Y134.41 late last month, in line with a test to

the 61.8% Fibo retrace of the long term  Y149.80-Y109.51 fall. In the interim,

we have seen a loss of Y133.26 support, beneath which opened the prospect of a

deeper Y131.71-Y131.51 decline, as we correct the most recent gains from the Sep

14 low at Y130.62. Meanwhile, nearest resistance falls to Y132.90-Y133.12. Back

above the latter currently needed for respite.