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Extends Bearish Reversal *RES 4:...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Extends Bearish Reversal
*RES 4: 111.30 High Mar 26
*RES 3: 110.36 76.4% of the Mar 24 - May 6 decline
*RES 2: 109.85 High Jun 5
*RES 1: 108.54 High Jun 9
*PRICE: 107.54 @ 05:57 BST Jun 10
*SUP 1: 107.39 Low Jun 1
*SUP 2: 107.09 Low May 29 and key near-term support
*SUP 3: 106.74 Low May 13
*SUP 4: 106.40 Low May 11
USDJPY is trading lower again today extending the current pullback. Monday's
price action in Japanese candle terms is a bearish engulfing reversal. This is a
strong signal and suggests sentiment has potentially reversed to bearish once
again. It also signals a top at Friday's high of 109.85. If correct, the risk is
for further weakness and attention is on support at 107.09, May 29 low. Initial
resistance is at 108.54, Jun 9 high.

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