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DOLLAR-YEN TECHS: Bulls Need Close Above Y111.98
*RES 4: Y112.83 55-DMA
*RES 3: Y112.42 Hourly resistance Jan 10
*RES 2: Y112.24 100-DMA
*RES 1: Y111.98 Low Dec 6 now resistance
*PRICE: Y111.78 @ 0530GMT
*SUP 1: Y111.26 Low Jan 10
*SUP 2: Y110.83 Monthly Low Nov 27
*SUP 3: Y109.77 Daily Bear channel base
*SUP 4: Y109.54 Low Sept 15
*COMMENTARY: Time spent above the 55-DMA was brief with the break below Y112.86
leaving the pair looking heavy and bears now focused on Y110.83 Nov lows. Bears
now need a close below Y110.83 to shift initial focus to the bear channel base
and overall focus to tests of 2017 lows. Bulls now need a close above Y111.98 to
ease immediate bearish pressure and above the 100-DMA to shift focus back to
Y112.83-113.44 where the 55-DMA and bear channel top are noted.