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Heading South *RES 4: 110.36.......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Heading South
*RES 4: 110.36 76.4% of the Mar 24 - May 6 decline
*RES 3: 109.85 High Jun 5
*RES 2: 108.54 High Jun 9
*RES 1: 107.87 High May 10
*PRICE: 107.06 @ 05:56 BST Jun 11
*SUP 1: 106.74 Low May 13
*SUP 2: 106.40 Low May 11
*SUP 3: 105.99 Low May 6/7 and key support
*SUP 4: 105.81 Low Mar 17
USDJPY continues to head south and extend the current pullback. A bearish theme
was confirmed Monday and highlighted by a Japanese candle pattern, a bearish
engulfing reversal. The pair has cleared support at 107.09, May 29 low
reinforcing bearish conditions and this signals scope for a move towards 106.74
next, May 13 low and the key support at 105.99, May 6 and 7 low. Initial
resistance is at 107.87, yesterday's high.

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