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Rally Faces Congested Resistance...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Rally Faces Congested Resistance Between Y113.27-Y113.82
*RES 4: Y114.00 1% volatility band
*RES 3: Y113.75/82 Dec 12 high, 76.4% of Y114.74-Y110.84
*RES 2: Y113.64 Dec 21 high
*RES 1: Y113.38/39 Dec 27, intraday highs
*PRICE: Y113.15 @1025GMT
*SUP 1: Y112.71/87 Jan 4 high, now support
*SUP 2: Y112.35/40 Congestion area Jan 2-3
*SUP 3: Y111.95/03 61.8% Fibo of Y110.84-Y113.75, Dec 15 low
*SUP 4: Y111.53 76.4% Fibo of Y110.84-Y113.75
*COMMENTARY* Further upside interest was generated by Friday's sustained break
above Y112.79-Y112.84. Back above here and the 76.4% Fibo retrace at Y113.27 was
the first of a congested set of resistance between here and Y113.82. Not until
we can clear the latter, will the topside breathe more easily. Nearest support
of note now seen from between Y112.87-Y112.71, loss would put pressure on
Y112.40-Y112.35, this the protection against a Y111.95-Y111.53 fall.

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