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Bearish Pressure *RES 4: 108.54....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bearish Pressure
*RES 4: 108.54 High Jun 9
*RES 3: 108.15/16 1.0% 10-dma envelope / High Jul 1 and the bull trigger
*RES 2: 107.79 High Jul 7
*RES 1: 107.53 High Jul 20
*PRICE: 106.44 @ 06:06 BST Jul 24
*SUP 1: 106.07 Low Jun 23
*SUP 2: 105.99 Low May 6 and 7 and key support
*SUP 3: 105.21 61.8% retracement of the Mar 9 - 24 rally
*SUP 4: 104.51 Low Mar 13
USDJPY is under pressure. Bearish pressure is likely to continue dominating
near-term. On Jun 10, support at 106.80, Jun 26 low was breached reinforcing a
bearish theme. The break has exposed key support at 106.07/105.99, Jun 23 low
and May 6/7 low. Clearance of this area would represent an important bearish
break. On the upside, firm short-term resistance is at 107.79, Jul 7 high.
Initial resistance though is Monday's 107.53 high.

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