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

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bearish Pressure Intact
*RES 4: 112.40 High Apr 24, 2019
*RES 3: 112.23 High Feb 20 and key resistance
*RES 2: 111.68 High Feb 24
*RES 1: 111.04 High Feb 25
*PRICE: 110.18 @ 17:06 GMT Feb 27
*SUP 1: 109.69 Low Feb 27
*SUP 2: 109.51 1.0% 10-dma envelope
*SUP 3: 109.30 Low Feb 5
*SUP 4: 108.55 Low Feb 4
USDJPY remains heavy. The move lower this week follows the rejection off last
week's high of 112.23 on Feb 20. Momentum studies are pointing south having
recently pulled away from overbought territory and this reinforces the current
bearish condition. Note that for now the move lower is still being viewed as a
correction. 109.51, the 1.0% 10-dma envelope marks the next support ahead of the
Feb 5 low at 109.30. First resistance is at 111.04.

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