Path of least resistance still.....>

DOLLAR-YEN TECHS: Path of least resistance still up:

*RES 4: 109.92 High May 30

*RES 3: 109.62 High May 31 and standard candle line high

*RES 2: 109.02 Low May 13 and key short-term resistance

*RES 1: 108.83 20-day EMA and just above the Jun 11 high

*PRICE: 108.30 @ 08:32 GMT June 18

*SUP 1: 108.16 Low Jun 13, 21-DMA

*SUP 2: 107.81 Jun 5 low and bear flag base

*SUP 3: 107.46 Low Jan 4

*SUP 4: 107.00 Round number support

USDPY bearish conditions remain intact. The consolidation that we've seen this

month has found resistance within the body of the long standard candle line of

May 31. Furthermore, the failure to move back above 109.00 highlights too the

lack of demand in USDJPY. Look for a break of 107.81 support, the Jun 5 low to

confirm a resumption of weakness. A move above 109.00 is required threaten the

bearish tone.