109.00 proving hard to overcome:...>

DOLLAR-YEN TECHS: 109.00 proving hard to overcome:

*RES 4: 109.93    May 30 high

*RES 3: 109.59/62 50.0% retracement of Apr 24-Jun 25 decline / High May 31

*RES 2: 109.02    May 13 low

*RES 1: 108.93/99 38.2% retracement of Apr 24-Jun 25 decline / Intraday high

*PRICE: 108.93    @ 08:46 GMT July 10

*SUP 1: 108.44/28 100-hma /Low Jul 8

*SUP 2: 108.23/09 200-hma / 21-dma

*SUP 3: 107.53    Channel resistance now support drawn / Jul 3 low

*SUP 4: 107.10    Low Jun 26

USDJPY maintains a bullish outlook but has so far struggled to overcome the

109.00 level. Momentum studies are rising and a clear price sequence of higher

highs and higher lows has been confirmed. This follows the recent break of

channel resistance drawn off the Apr 24 high. Further gains are favoured with

the focus on the May 13 low at 109.02. A break here would open the 50% Fibonacci

level & May 31 high at 109.59/62.