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Rally Challenges Next Y109.19......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Rally Challenges Next Y109.19 Resistance
*RES 4: Y110.27 61.8% Fibo of Y113.75-Y104.63
*RES 3: Y109.77/79 2% volatility band, Feb 8 high, 
*RES 2: Y109.51 1.618 projection target from Y105.66
*RES 1: Y109.19 50% Fibo of Y113.75-Y104.63
*PRICE: Y109.06 @1600GMT
*SUP 1: Y108.65 Hourly support
*SUP 2: Y108.29 Hourly high Apr 23, now support
*SUP 3: Y108.01 Hourly base Apr 23
*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 the 50% Fibo retrace level at
Y109.19 next. In the interim, support also on the rise, initially from above
Y108.65, loss would caution now 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.

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