Loss Of Y112.03 Sees Y111.53.......>

DOLLAR-YEN TECHS: Loss Of Y112.03 Sees Y111.53 Support Next In The Spotlight

*RES 4: Y112.78 Intraday high

*RES 3: Y112.50/55 Congestion area Jan 9

*RES 2: Y112.37/38 Jan 9 low, intraday hourly recovery high

*RES 1: Y112.10/15 Hourly resistance

*PRICE: Y111.77 @0940GMT

*SUP 1: Y111.53 76.4% Fibo of Y110.84-Y113.75, 1% vol band

*SUP 2: Y111.24 1.618 swing of Y112.06-Y113.39

*SUP 3: Y111.04 1.618 swing of Y112.03-Y113.64

*SUP 4: Y110.84 Nov 27 low

*COMMENTARY* Continued falling recovery highs have now resulted in a drop below

Y112.06-Y112.03 support. This brings into focus the 76.4% Fibo retrace level at

Y111.53, where the lower 1% volatility band also currently resides. Any lower

and can allow an overshoot to two recent swing targets at Y111.24 and Y111.04

respectively. These present the last protection to the Nov 27 low at Y110.84.

Meanwhile, Y112.10-Y112.38 resistance the bar to any near term recovery.