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Bearish Outlook Intact *RES 4:.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bearish Outlook Intact
*RES 4: 111.04 High Feb 25
*RES 3: 110.46 High Feb 27
*RES 2: 109.68 High Feb 28
*RES 1: 108.58 High Mar 2
*PRICE: 107.50 @ 10:36 GMT Mar 4
*SUP 1: 106.85 Intraday low
*SUP 2: 106.48 Low Oct 3 and key support
*SUP 3: 105.74 Low Sep 3
*SUP 4: 105.59 Low Aug 27
USDJPY bears gained control again yesterday and the pair probed the former
support at 107.01 in the Asia session. This keeps bearish conditions in place
following last week's sharp sell-off that started off the Feb 20 high of 112.23.
Momentum studies are pointing south having recently pulled away from overbought
territory and this reinforces current bearish conditions. A clear break below
107.01 would open 106.48. Initial resistance is at 108.58, Monday's high.

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