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Pressure Resumes After Loss Of.....>

DOLLAR-YEN TECHS: Pressure Resumes After Loss Of Key Y105.25-Y104.95 Support
*RES 4: Y106.15/20 Hourly lows/highs Mar 20-21
*RES 3: Y105.97 Hourly recovery high Mar 22
*RES 2: Y105.60 Mar 16 low, now resistance
*RES 1: Y105.35/40 Hourly resistance
*PRICE: Y105.10 @0809GMT
*SUP 1: Y104.63 Mar 23 low
*SUP 2: Y104.09 1.618 swing Y105.55-Y107.91
*SUP 3: Y103.98 1.618 swing Y105.25-Y107.30
*SUP 4: Y103.71/82 2% vol band, 16 month bear channel base
*COMMENTARY* Last week's recovery was stopped in its tracks by the 61.8% Fibo
retrace level at Y106.65 on Wednesday. The resulting fall was swift, losing
support from Y105.60 initially and more latterly the key Y105.25-Y104.95 area. A
low so far of Y104.63, as we head towards the remaining swing targets between
Y104.09 and Y103.98. These ahead of the 16 month bear channel base at Y103.82
and long term Fibo at Y103.64. Immediate resistance from Y105.35-Y105.60.

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