Bearish tone intact, focus is......>

DOLLAR-YEN TECHS: Bearish tone intact, focus is now on 106.50:

*RES 4: 109.02 Low May 13

*RES 3: 108.81 High Jun 11 and key short-term resistance

*RES 2: 108.41/57 20-day EMA and trendline resistance drawn off the Apr 24 high

*RES 1: 107.81 Low Jun 5 and recent bear trigger

*PRICE: 107.44 @ 05:15 GMT June 24

*SUP 1: 107.05 Jun 21 low

*SUP 2: 106.50/39 76.4% of the Jan 3-Apr 24 rally / bear channel base drawn off

Apr 24 high

*SUP 3: 106.00 Round number support

USDJPY hit fresh cycle lows Friday morning but recovered somewhat in European

and US hours. A break of the 61.8% retracement of the Jan 3-Apr 24 rally at

107.61 last week further cements bearish conditions and extends the price

sequence of lower lows and lower highs. Attention is now on the 76.4%

retracement at 106.50. Note that this is just above the bear channel base at

106.39 highlighting a potentially significant support handle at 106.50/30.