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Partial Reversal *RES 4: 111.30....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Partial Reversal
*RES 4: 111.30 High Mar 26
*RES 3: 110.36 76.4% of the Mar 24 - May 6 decline
*RES 2: 110.00 Round number resistance
*RES 1: 109.85 High Jun 5
*PRICE: 108.57 @ 16:51 BST Jun 8
*SUP 1: 108.48/41 Low Jun 8 / 3
*SUP 2: 108.43 200-dma
*SUP 3: 108.09 High May 19 and former breakout level
*SUP 4: 107.51 Low Jun 2
USDJPY remains bullish despite Monday's pullback which was only a partial
reversal. The move higher followed a break of 108.08/09, Apr 16/17 and May 19
highs that marked the end of the recent period of consolidation. Furthermore,
108.85 and 109.52, both Fibonacci retracements, have been cleared to further
cement a bullish condition. Attention shifts to 110.36, 76.4% of the Mar 24 -
May 6 sell-off. Initial support sits at the 200-dma of 108.43.

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