Pullback Continues,................>

DOLLAR-YEN TECHS: Pullback Continues, Y111.14-Y110.96 Support Gives Way

*RES 4: Y112.25/35 Hourly congestion Jul 19-20

*RES 3: Y112.05 Jul 19 low, now resistance

*RES 2: Y111.70 Hourly high Jul 20

*RES 1: Y111.30/35 Hourly resistance

*PRICE: Y110.96 @0806GMT

*SUP 1: Y110.57/65 8 week rising support line, 50% Fibo 

*SUP 2: Y110.28 Jul 4 low

*SUP 3: Y110.05 61.8% Fibo of Y108.11-Y113.18

*SUP 4: Y109.81 2% volatility band

*COMMENTARY* Friday saw the pullback continue, toward Y111.39-Y111.36 support,

this being the brake to a deeper Y111.14-Y110.96 fall, where stronger questions

would be asked of near term direction. The latter has given way today, leaving

Y110.65-Y110.57 as the next key support area. Resistance falls to

Y111.30-Y111.35, above would allow some near term respite, with Y111.70 and the

Jul 19 low at Y112.05 waiting higher. Below Y110.65 and look to Y110.28 next.