Approaching Key Support *RES 4:....>

DOLLAR-YEN TECHS: Approaching Key Support

*RES 4: 109.38 High Apr 6 and near-term bull trigger

*RES 3: 109.06 High Apr 9

*RES 2: 108.59 High Apr 10

*RES 1: 107.86 High Apr 15

*PRICE: 107.35 @ 17:04 BST Apr 15

*SUP 1: 106.92/93 Low Apr 1 and bear trigger / Low Apr 15

*SUP 2: 106.76 Low Mar 18

*SUP 3: 106.45 50.0% retracement of the Mar 9 - 24 rally

*SUP 4: 105.81 Low Mar 17

USDJPY traded lower Tuesday and maintains a bearish outlook. The pair stalled at

109.38 on Apr 6 and this level represents a key short-term resistance. Wednesday

saw a modest bounce in prices, but attention remains on key support and the bear

trigger at 106.92, Apr 1 low. A break would strengthen a bearish case and open

106.45, a Fibonacci retracement and 105.81, Mar 17 low. On the upside, a move

through 109.83 is required to signal a bullish reversal.