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Rally Continues, Heading Toward....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Rally Continues, Heading Toward Y106.65-Y106.82 Resistance
*RES 4: Y107.30 Mar 13 high
*RES 3: Y106.78/82 23.6% Fibo of Y113.75-Y104.63, 1% vol band
*RES 2: Y106.65 Mar 21 high
*RES 1: Y106.35 Intraday high
*PRICE: Y106.18 @1355GMT
*SUP 1: Y105.65/70 Hourly support
*SUP 2: Y105.29/32 Mar 23 high, Mar 27 low
*SUP 3: Y105.06 Initial recovery high Mar 26, now support
*SUP 4: Y104.63 Mar 23 low
*COMMENTARY* Has shrugged off near term overbought conditions with a dip to
Y105.29, before regrouping for another assault higher. This has broken above
Tuesday's Y105.90 high and also the Y106.15-Y106.20 resistance area. A high of
Y106.35 so far as we head towards the Mar 21 high at Y106.65 and then the
slightly tougher Y106.78-Y106.82 area. As a consequence, the nearest support
climbs to Y105.70-Y105.65, loss would concern and spoil recent upside momentum.

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