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DOLLAR-YEN TECHS: Rally Approaches Next Y109.05-Y109.19 Resistance
*RES 4: Y110.27 61.8% Fibo of Y113.75-Y104.63
*RES 3: Y109.75/79 2% volatility band, Feb 8 high,
*RES 2: Y109.51 1.618 projection target from Y105.66
*RES 1: Y109.05/19 Hourly resistance, 50% of Y113.75-Y104.63
*PRICE: Y108.83 @0835GMT
*SUP 1: Y108.40/45 Hourly support
*SUP 2: Y108.13 Hourly base Apr 23
*SUP 3: Y107.86/89 Hourly high and Apr 20 high, now support
*SUP 4: Y107.78 Apr 13 high, now support
*COMMENTARY* Has extended through the upper end of congested Y108.34-Y108.44
resistance, leaving the way clear for a run at Y109.05 and the 50% Fibo retrace
level at Y109.19 next. In the interim, support also on the rise, initially from
above Y108.45-Y108.40, loss would caution and suggest scope to see a deeper
correction of the steep gains seen since the Apr 17 low at Y106.88. Directly
through Y109.19 and the projection target at Y109.51, then Y109.75-Y109.79.