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Pulls Away From Key Resistance.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Pulls Away From Key Resistance
*RES 4: 109.38 High Apr 6
*RES 3: 108.85 50% retracement of the Mar 24 - May 6 decline
*RES 2: 108.59 High Apr 10
*RES 1: 108.08/09 High Apr 16 and 17 / High May 19
*PRICE: 107.18 @ 06:02 BST May 29
*SUP 1: 107.10 Intraday low
*SUP 2: 106.74 Low May 13 and key intraday support
*SUP 3: 106.40 Low May 11
*SUP 4: 105.99 Low May 6 and 7 low and bear trigger
USDJPY has started today's session on a softer note and overnight in Asia traded
below support at 107.30, May 19 low. The pullback follows a period of
consolidation and an inability to clear the key resistance at 108.08, Apr 16 and
17 high. A clear break of 108.08 is still required to signal a bullish reversal.
Key near-term support to watch next is at 106.74, May 13 low. A break would
resume a bearish focus and open 105.99, May 6 and 7 low.

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