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Fresh Lows On Spill Over From GBP Weakness

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DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Downside Pressure Resumes, Y106.00-Y106.10 Resistance
*RES 4: Y106.89 76.4% Fibo of Y107.30-Y105.58
*RES 3: Y106.64/65 61.8% Fibo of Y107.30-Y105.58, Mar 21 high
*RES 2: Y106.42 Mar 15 high
*RES 1: Y106.00/10 Hourly resistance
*PRICE: Y105.69 @0910GMT
*SUP 1: Y105.58/60 Intraday, Mar 16 lows
*SUP 2: Y105.17/25 1% volatility band, Mar 2 low
*SUP 3: Y104.95 1.618 swing of Y105.60-Y106.65
*SUP 4: Y104.11 2% volatility band
*COMMENTARY* This week's recovery was stopped in its tracks by the 61.8% Fibo
retrace level at Y106.65 on Wednesday. The subsequent fall has been swift, once
again exerting pressure on the Y105.60 area. A low of Y105.58 so far, protecting
the key area between Y105.25 and the lower 1% volatility band at Y105.17. In the
interim, resistance from Y106.00-Y106.10, above would allow some respite. Below
Y105.17 and the swing target at Y104.95 prevents deeper Y104.11-Y103.98 fall.

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