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May Lows in Sight *RES 4: 110.36...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: May Lows in Sight
*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: 106.67 @ 16:45 BST Jun 11
*SUP 1: 106.58 Low Jun 11
*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 remains weak, extending 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 key
support at 105.99, May 6 and 7 low. Initial resistance is at 107.87, the
Wednesday high.

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