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Bulls Need Close Above 55-DMA......>

DOLLAR-YEN TECHS

DOLLAR-YEN TECHS: Bulls Need Close Above 55-DMA

*RES 4: Y108.03 Low Feb 9 now resistance

*RES 3: Y107.33 55-DMA

*RES 2: Y107.29 High Mar 13

*RES 1: Y107.01 High Mar 28

*PRICE: Y106.94 @ 0230GMT

*SUP 1: Y106.69 Hourly support Apr 4

*SUP 2: Y105.29 Hourly resistance Mar 23 now support

*SUP 3: Y104.55 2018 Low Mar 26

*SUP 4: Y104.28 LT Rising TL off 2016 low

*COMMENTARY: Support emerging on dips sees the pair pressuring the Y107.01-33

where the 55-DMA is located. The 55-DMA remains key resistance with bulls

needing a close above to shift immediate focus to Y108.03-42 and to hint at a

move targeting Y109.50-110.71 where key WMAs and the 200-DMA are located. Layers

of support building add to bullish confidence with bears now needing a close

below Y106.29 to ease pressure on the 55-DMA.

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