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Fall Holding Above Next Key........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Fall Holding Above Next Key Support From Y109.15
*RES 4: Y110.90 Hourly congestion May 22
*RES 3: Y110.61 May 18 low, now resistance
*RES 2: Y110.20/33 Base 2 month bull channel, hourly high 
*RES 1: Y110.00/10 Hourly resistance
*PRICE: Y109.63 @0810GMT
*SUP 1: Y109.33 Intraday low
*SUP 2: Y109.15 May 11 low, 1% volatility band
*SUP 3: Y108.81 38.2% Fibo of Y104.63-Y111.40
*SUP 4: Y108.65 May 4 low
*COMMENTARY* The appearance of the 'shooting star' candle close on the daily
chart on Monday was the warning and precursor to the subsequent decline, which
has reached Y109.33 today. The fall has lost support from the 2 month bull
channel base at Y110.20 and also the 76.4% Fibo retrace level at Y109.68. The
next real support of note comes from Y109.15, where bigger questions are asked
of direction. Y110.00-Y110.33 provides resistance against any near term bounce.

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