Bearish Focus Holds *RES 4:........>

DOLLAR-YEN TECHS: Bearish Focus Holds

*RES 4: 109.85 High Jun 5 and key resistance

*RES 3: 108.54 High Jun 9

*RES 2: 108.30 1.0% 10-dma envelope

*RES 1: 108.16 High Jul 1

*PRICE: 107.51 @ 18:00 BST Jul 3

*SUP 1: 106.80 Low Jun 26

*SUP 2: 106.07 Low Jun 23 and the intraday bear trigger

*SUP 3: 105.99 Low May 6 and 7 and key support

*SUP 4: 105.81 Low Mar 17

USDJPY is unchanged. The pair last week traded through resistance at 107.64, Jun

16 high. A bearish focus has been in place following the breach on Jun 23 of

support at 106.58, Jun 11 low. This confirmed a resumption of the sell-off from

Jun 5 and although last week's break of 107.64 is a bullish development, a

bearish risk is still present. Attention is on the key support at 105.99, May 6

and 7 low. On the upside, further gains if seen would open 108.54.