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Bearish Pressure Maintained *RES...>

DOLLAR-YEN TECHS: Bearish Pressure Maintained
*RES 4: 108.50 1.0% 10-dma envelope
*RES 3: 108.16 High Jul 1 and the bull trigger
*RES 2: 107.79 High Jul 7
*RES 1: 107.40 High Jul 9
*PRICE: 106.87 @ 06:14 BST Jul 13
*SUP 1: 106.65 Low Jul 10
*SUP 2: 106.07 Low Jun 23
*SUP 3: 105.99 Low May 6 and 7 and key support
*SUP 4: 105.21 61.8% retracement of the Mar 9 - 24 rally
USDJPY maintains its current bearish threat. Last week, support at 106.80, Jun
26 low was breached reinforcing the current bearish tone. The break has also
exposed the key support zone at 106.07/105.99. Clearance of this area would
represent an important bearish development. On the upside, firm resistance has
been defined at 107.79, Jul 7 high. Initial resistance though is at 107.40, Jul
9 high.

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