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DOLLAR-YEN TECHS: 7 Week Support Line Survives A Test On Tuesday
*RES 4: Y110.84 Nov 27 low, now resistance
*RES 3: Y110.40 1% volatility band
*RES 2: Y110.27 61.8% Fibo of Y113.75-Y104.63
*RES 1: Y110.04 May 2 high
*PRICE: Y109.70 @1630GMT
*SUP 1: Y109.35 Hourly support
*SUP 2: Y109.02 7 week rising support line
*SUP 3: Y108.83 May 8 low
*SUP 4: Y108.54/65 Apr 24, May 4 lows
*COMMENTARY* The 7 week rising support line survived a test on Tuesday, keeping
recent upside momentum intact for the time being. Furthermore, the Y109.80
resistance level has been under attack for most of the day, the bar to a Y110.04
return. Support rises accordingly, Y109.35 initially, ahead of that support line
at Y109.02 by time today. Directly above Y110.04 and the Y110.24 Fibo retrace
comes back into the picture ahead of the pivotal Y110.84 level.

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