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DOLLAR-YEN TECHS: Bulls Focused On Y114.07-72
*RES 4: Y115.62 High Jan 19
*RES 3: Y114.72 High Nov 6, LT TL off 2015 High
*RES 2: Y114.07 High Nov 9
*RES 1: Y113.96 Bollinger band top
*PRICE: Y113.31 @ 0530GMT
*SUP 1: Y113.04 Hourly support Dec 7
*SUP 2: Y112.77 Daily Bull channel base (Off Nov 28 low)
*SUP 3: Y112.57 Hourly support Dec 7a
*SUP 4: Y112.33 Hourly resistance Dec 7a now support
*COMMENTARY: The bounce from the channel base confirmed significance last week
with the pair having broken Y113.33. Bulls initially target Y114.07-72 where Nov
monthly highs and the LT falling TL are noted. Bears still need a close below
Y113.04 to gain breathing room and below Y112.57 to add weight to the case for a
correction back to Y110.83-111.67 where monthly lows, 100 & 200-DMAs are noted.
The Bollinger top remains the key concern for bulls.