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Fresh Fall Opens Potential For A...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Fresh Fall Opens Potential For A Y110.16-Y109.63 Decline
*RES 4: Y112.20 Jul 26 high
*RES 3: Y111.72 Jul 27 high
*RES 2: Y111.29 Jul 28 high
*RES 1: Y110.95/05 Hourly resistance
*PRICE: Y110.67 @0901GMT
*SUP 1: Y110.16/22 76.4% of Y108.82-Y114.50, 1% vol band
*SUP 2: Y109.63 76.4% Y108.13-Y114.50, swing Y110.62-Y112.20
*SUP 3: Y109.36 4 month rising support line
*SUP 4: Y109.11 2% volatility band
*COMMENTARY* Unable to break free of the 38.2% Fibo retrace level at Y112.10
last Wednesday, a high of Y112.20 before succumbing to a fresh fall. The
subsequent move below the Jul 24 high at Y111.32 has seen near term bias return
to the downside, the further loss of the key Y110.62-Y110.48 area then opening
the potential for a further Y110.16-Y109.63 decline. Resistance Y110.95-Y111.05
but back above Friday's Y111.29 high currently needed for respite.

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