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Downside Pressure Resumes On Key...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Downside Pressure Resumes On Key Y105.25-Y105.13 Area
*RES 4: Y106.65 Mar 21 high
*RES 3: Y106.30/35 Hourly congestion Mar 21
*RES 2: Y105.97 Intraday high
*RES 1: Y105.70 Hourly resistance
*PRICE: Y105.38 @1605GMT
*SUP 1: Y105.13/25 1% volatility band, Mar 2 low
*SUP 2: Y104.95 1.618 swing of Y105.60-Y106.65
*SUP 3: Y104.07/09 2% vol band, 1.618 swing Y105.55-Y107.91
*SUP 4: Y103.98 1.618 swing f Y105.25-Y107.30
*COMMENTARY* This week's recovery was stopped in its tracks by the 61.8% Fibo
retrace level at Y106.65 on Wednesday. The resulting fall has been swift,
exerting pressure initially on the Y105.60 area again. The subsequent break now
targets the key area between Y105.25 and the lower 1% volatility band at
Y105.07. Any lower and 3 swing targets between Y104.95 and Y103.98 then ahead of
the 16 month bear channel base at Y103.91. Resistance Y105.70-Y106.35.

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