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7 Week Support Line Back Under.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: 7 Week Support Line Back Under Examination
*RES 4: Y110.48/53 1% vol band, 1.618 swing Y110.02-Y109.19
*RES 3: Y110.27 61.8% Fibo of Y113.75-Y104.63
*RES 2: Y110.02/04 May 10, May 2 highs
*RES 1: Y109.80 Hourly resistance
*PRICE: Y109.38 @0813GMT
*SUP 1: Y109.19/29 Intraday low, 7 week rising support line
*SUP 2: Y108.95 Hourly support
*SUP 3: Y108.54/65 Apr 24, May 4 lows
*SUP 4: Y108.30 1% volatility band
*COMMENTARY* The 7 week rising support line back under examination today, this
and the slightly lower Y108.95 level need to hold to keep recent upside momentum
intact. Again have Y109.80 as nearest resistance level and preventing another
Y110.02-Y110.04 return. Below Y108.95 and focus will again settle on the recent
Y108.65-Y108.54 lows and then the 1% volatility band at Y108.30, as we give back
gains. Above Y110.04 and Fibo resistance from Y110.27 ahead of Y110.48-Y110.53.

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