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Monday's 'Shooting Star' Candle....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Monday's 'Shooting Star' Candle Close Comes To Fruition
*RES 4: Y111.08 Hourly recovery high May 22
*RES 3: Y110.79 May 22 low, now resistance
*RES 2: Y110.61 May 18 low, now resistance
*RES 1: Y110.35/40 Hourly resistance
*PRICE: Y109.74 @0906GMT
*SUP 1: Y109.68 76.4% Fibo of Y109.15-Y111.40
*SUP 2: Y109.15 May 11 low, 1% volatility band
*SUP 3: Y108.81 38.2% Fibo of Y104.63-Y111.40
*SUP 4: Y108.65 May 4 low
*COMMENTARY* Turns out we were right to be concerned by the appearance of the
'shooting star' candle close on the daily chart on Monday. The fall from Y111.40
has lost support from the 2 month bull channel base at Y110.08 by time today.
Next to watch is the 76.4% Fibo retrace at Y109.68, the protection against a
further Y109.15 fall, where next real questions are asked of direction. In the
interim, Y110.35-Y110.40 provides resistance against any near term bounce.

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