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Bulls Need Close Above 21-DMA......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bulls Need Close Above 21-DMA
*RES 4: Y111.18 High May 22 
*RES 3: Y110.72 Hourly support May 22 now resistance 
*RES 2: Y110.20 200-DMA 
*RES 1: Y109.78 21-DMA
*PRICE: Y109.12 @ 2130GMT
*SUP 1: Y108.94 Low May 24 
*SUP 2: Y108.53 Low Apr 24 
*SUP 3: Y108.26 100-DMA 
*SUP 4: Y107.95 55-DMA
*COMMENTARY: The failure to gain traction above the 55-WMA (Y110.41) has
resulted in closes below the 200-DMA adding weight to the case for a correction
back to Y107.85-108.53 where the 21-WMA and 55 & 100-DMAs are situated. Daily
studies correcting from O/B are a concern for bulls. Bears now look for a close
below Y107.85 to confirm breaks of 55 & 100-DMAs and shift initial focus to
Y106.57. Bulls need a close above the 21-DMA to gain breathing room.

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