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Rally Still Facing.................>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Rally Still Facing Y110.49-Y110.81 Resistance
*RES 4: Y111.25/40 1% volatility band, May 21 high
*RES 3: Y110.91 Jun 15 high
*RES 2: Y110.76/81 Jun 21 high, 1.618 swing Y110.49-Y109.97
*RES 1: Y110.49 Jun 27 high
*PRICE: Y110.40 @1552GMT
*SUP 1: Y109.90/97 Hourly support
*SUP 2: Y109.69 Jun 27 low
*SUP 3: Y109.37 Jun 25, Jun 26 lows
*SUP 4: Y109.18/20 61.8% of Y108.11-Y110.91, Jun 8 low
*COMMENTARY* The fallout since the Jun 15 high at Y110.91 found a base at
Y109.37 and has been trying to improve ever since. Still has resistance from
between Y110.49-Y110.81 to scale, before that Y110.91 comes into view again. In
the interim, support comes from between Y109.97-Y109.69 with only back below the
latter spoiling recent upward momentum and pressure back on Y109.37-Y109.18.
Directly through Y110.91 and Y111.25-Y111.40 bars the way to Y111.86.

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