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Bulls Need Close Above Y110.85.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bulls Need Close Above Y110.85
*RES 4: Y112.23 200-DMA 
*RES 3: Y111.70 Hourly support July 26 now resistance 
*RES 2: Y111.39 Hourly resistance July 27 
*RES 1: Y110.85 Hourly resistance July 28
*PRICE: Y110.80 @ 0415GMT
*SUP 1: Y110.59 High Aug 1 now support 
*SUP 2: Y110.30 Hourly support Aug 2 
*SUP 3: Y109.91 Low Aug 1 
*SUP 4: Y109.70 55-WMA
*COMMENTARY: The lack of follow through on the break of Y110.34 is less than
ideal given daily studies looking to correct from modestly O/S. Layers of
resistance remain with bulls needing a close above Y110.85 to gain breathing
room and hint at a bounce back to Y111.39-112.23 where DMAs are located. Initial
support is noted at Y110.60 with bears needing a close below to ease pressure on
Y110.85 and below Y110.30 to retain focus on Y108.69-109.70.

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