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DOLLAR-YEN TECHS: Key Y110.65 Level Comes Under Challenge
*RES 4: Y112.05 Jul 19 low, now resistance
*RES 3: Y111.55/58 Jul 23 high, 38.2% of Y113.18-Y110.59
*RES 2: Y111.39 Jul 25 high
*RES 1: Y111.20 Hourly resistance
*PRICE: Y111.08 @1543GMT
*SUP 1: Y110.59/65 Intraday low, 50% Fibo of Y108.11-Y113.18
*SUP 2: Y110.26/28 1.618 swing of Y110.75-Y111.55, Jul 4 low
*SUP 3: Y110.05 61.8% Fibo of Y108.11-Y113.18
*SUP 4: Y109.64 2% volatility band
*COMMENTARY* The 8 week rising support line, at Y110.76 by time today, has come
under pressure but is still trying to cling to support from around the 50% Fibo
retrace level at Y110.65. Any lower and the Y110.28-Y110.26 area provides next
support, ahead of the 61.8% Fibo retrace level at Y110.05. In the interim,
resistance now comes from Y111.20 but a move back above the Y111.39-Y111.55
region is needed, before any real hope of a recovery.