Bulls Need Close Above Y112.87.....>

DOLLAR-YEN TECHS: Bulls Need Close Above Y112.87

*RES 4: Y113.33 High Nov 16 

*RES 3: Y113.10 High Dec 4 

*RES 2: Y112.87 High Dec 5 

*RES 1: Y112.37 Hourly resistance Dec 6

*PRICE: Y112.25 @ 2000GMT

*SUP 1: Y112.09 Daily Bull channel base (Off Nov 28 low) 

*SUP 2: Y111.82 Hourly support Dec 1 

*SUP 3: Y111.67 200-DMA 

*SUP 4: Y111.35 Low Nov 29

*COMMENTARY: The break of Y112.30 rings alarm bells for bulls although the

bounce from the bull channel base is less than ideal. A lack of follow through

above the 55-DMA (Y112.75) sees bulls needing a close above Y112.87 to reconfirm

focus on Y113.33. Bulls need a close above Y113.33 to add support to the case

for a move initially targeting Y114.72 Nov highs. While Y112.87 caps bears

retain the advantage with a close below Y110.83 to end bullish hopes.