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

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

*RES 4: Y113.90 Bollinger band top 

*RES 3: Y113.33 High Nov 16 

*RES 2: Y113.10 High Dec 4 

*RES 1: Y112.87 High Dec 5

*PRICE: Y112.44 @ 0530GMT

*SUP 1: Y112.33 Hourly resistance Dec 7 now support

*SUP 2: Y112.09 Daily Bull channel base (Off Nov 28 low) 

*SUP 3: Y111.82 Hourly support Dec 1 

*SUP 4: Y111.66 200-DMA

*COMMENTARY: The bounce from the channel base sees bulls gaining a little

confidence. In saying that, 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, initially targeting Y109.52.