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Rally Reaches 61.8% Fibo Retrace...>

DOLLAR-YEN TECHS: Rally Reaches 61.8% Fibo Retrace Level
*RES 4: Y111.08 May 18 high
*RES 3: Y110.62 76.4% Fibo of Y111.40-Y108.11
*RES 2: Y110.34/47 1.618 swing of Y110.01-Y109.47, 1% vol band
*RES 1: Y110.14 61.8% Fibo of Y111.40-Y108.11
*PRICE: Y110.06 @0909GMT
*SUP 1: Y109.60/70 Hourly support
*SUP 2: Y109.37/47 Jun 4, Jun 5 lows
*SUP 3: Y109.08 May 30 high, now support
*SUP 4: Y108.55 Hourly basing area May 30-31
*COMMENTARY* The recovery has now stretched above Y109.75-Y109.83 resistance,
moving towards the next Fibo retrace of note, the 61.8% at Y110.14. Close to
overbought again in the near term, so eyes are on Y109.70-Y109.37 support. A
loss of the latter would caution, putting pressure back on the May 30 high at
Y109.08. Upside momentum would take a hit on a move below here, Y108.55-Y108.39
then next support lower. Above Y110.14 and look to Y110.34-Y110.47 next.

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