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Y132.90-Y133.12 The Resistance To....>

EURO-YEN TECHS
EURO-YEN TECHS: Y132.90-Y133.12 The Resistance To Any Near Term 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: Y132.63 @1553GMT
*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
*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.

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