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Pressure Will Continue While.......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Pressure Will Continue While Y111.19-Y111.45 Caps Rallies
*RES 4: Y111.70 Jan 12 high
*RES 3: Y111.40/45 Congestion area Jan 10-12
*RES 2: Y111.19 Jan 15 high
*RES 1: Y110.98 Intraday high
*PRICE: Y110.69 @0932GMT
*SUP 1: Y110.33/40 Jan 15 low, hourly support
*SUP 2: Y110.15 61.8% Fibo of Y107.32-Y114.74
*SUP 3: Y109.79 Equality fall from Y113.69 to Y114.74-Y110.84
*SUP 4: Y109.73/76 2% vol band, 11 week bear channel base
*COMMENTARY* Monday's fall extended slightly below hourly support at Y110.40, a
low of Y110.33 before bouncing to correct some near term oversold conditions.
While this remains below Y111.19 initially and more importantly Y111.40-45, then
this remains just corrective. Below Y110.33 and the 61.8% Fibo retrace at
Y110.15 is the next protection against a deeper Y109.93-Y109.73 fall. The latter
the current level of the lower 2% volatility band.

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