Correcting Recent Losses After.....>

DOLLAR-YEN TECHS: Correcting Recent Losses After Y110.15 Fibo Level Holds

*RES 4: Y112.06/17 Jan 2 low, 61.8% of Y113.39-Y110.19

*RES 3: Y111.88 Jan 11 high

*RES 2: Y111.70 Jan 12 high

*RES 1: Y111.45/48 Congestion area Jan 10-12, intraday high

*PRICE: Y111.33 @1018GMT

*SUP 1: Y110.50/60 Hourly support

*SUP 2: Y110.15/19 61.8% f Y107.32-Y114.74, Jan 17 low

*SUP 3: Y109.79 Equality fall from Y113.69 to Y114.74-Y110.84

*SUP 4: Y109.44 2% volatility band

*COMMENTARY* Has found support from the 61.8% Fibo retrace level at Y110.15, the

subsequent rally now correcting some of the recent losses from last week's

Y113.39 high. In this respect, look to Y111.45-Y111.48 for initial resistance,

Y111.70-Y111.88 then the brake to more important Y112.06-Y112.17 levels. As a

consequence, support rises to Y110.60-Y110.50, loss of the latter would caution

now and put pressure back on the downside.