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Hesitating Around Bear Channel.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Hesitating Around Bear Channel Top
*RES 4: Y114.07 High Nov 9 
*RES 3: Y113.74 High Dec 12 
*RES 2: Y113.44 High Dec 22 
*RES 1: Y113.24 Daily Bear channel top
*PRICE: Y113.10 @ 0220GMT
*SUP 1: Y112.86 High Jan 4 now support 
*SUP 2: Y112.45 Low Jan 4 
*SUP 3: Y111.98 Low Dec 6 
*SUP 4: Y111.69 200-DMA
*COMMENTARY: Despite pressuring Y111.98-112.17 where the 100-DMA is located
bears failed to produce a close below with the recovery resulting in a test of
the bear channel top. Bulls look for a close above Y113.44 to confirm a break of
the channel top and shift overall focus back to Y114.72. Daily studies are well
placed for gains. Bears now look for a close below Y112.45 to return pressure to
the key Y110.83-111.98 support region where 100 & 200-DMAs are noted.

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