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Downward Spiral *RES 4: 109.68.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Downward Spiral
*RES 4: 109.68 High Feb 28
*RES 3: 108.58 High Mar 2
*RES 2: 107.74 High Mar 5
*RES 1: 106.34 High Mar 6
*PRICE: 105.31 @ 16:59 GMT Mar 6
*SUP 1: 104.99 Intraday low
*SUP 2: 104.46 Low Aug 26 and key support
*SUP 3: 104.29 1.00 projection of Apr 24 - Aug 26, 2019 decline from Feb 20 high
*SUP 4: 104.00 Round number support
USDJPY bears are in control as the pair spirals to fresh lows once again this
morning. Sharp losses follow the clear break yesterday of Wednesday's 106.85
low. This keeps bearish conditions in place following the sharp decline that
started off the Feb 20 high of 112.23. Momentum studies are pointing south, also
reinforcing bearish conditions. With the 105.00 handle already tested this
morning, the focus shifts to 104.46, Aug 26 low next.

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