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DOLLAR-YEN TECHS: Dipping Into Key Support Region
*RES 4: Y111.18 High May 22
*RES 3: Y110.90 High June 15
*RES 2: Y110.62 Hourly resistance June 8
*RES 1: Y110.23 200-DMA
*PRICE: Y109.67 @ 0430GMT
*SUP 1: Y109.11 55-DMA
*SUP 2: Y109.01 Hourly support June 1
*SUP 3: Y108.70 Low June 1
*SUP 4: Y108.14 100-DMA
*COMMENTARY: The failure to gain traction above the 200-DMA (Y110.23) sees the
pair dipping into the Y109.01-84 support region. Bears need a close below
Y109.84 to ease bullish pressure and below Y109.01 to pressure Y107.85-108.14
where the 100-DMA is found. Daily studies at O/B levels is less than ideal for
bulls. Bulls now need a close above Y110.90 to confirm traction above the
200-DMA and return immediate focus to Y111.39-98.