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Continued Fall Pressures...........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Continued Fall Pressures Y110.19-Y110.15 Again
*RES 4: Y111.70/88 Jan 12, Jan 11 highs
*RES 3: Y111.48 Jan 18 high
*RES 2: Y111.23 Jan 22 high
*RES 1: Y110.85/95 Hourly resistance
*PRICE: Y110.32 @1640GMT
*SUP 1: Y110.15/19 61.8% of Y107.32-Y114.74, Jan 17 low
*SUP 2: Y109.79 Equality fall from Y113.69 to Y114.74-Y110.84
*SUP 3: Y109.39 1.618 swing of Y110.19-Y111.48
*SUP 4: Y109.07 76.4% Fibo of Y107.32-Y114.74
*COMMENTARY* With the recovery failing to move any higher than Y111.48, we have
gradually moved back lower over the course of the last week, until
Y110.19-Y110.15 support has come back into view. This area still seen as the
protection to the downside and against a deeper fall which sees the lower 1%
volatility band join the equality fall target at Y109.79. Below and
Y109.39-Y109.07 next. Resistance Y110.85-95, with Y111.23 above.

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