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Recoveries Will Be Benign While....>

DOLLAR-YEN TECHS: Recoveries Will Be Benign While Held Below Y109.37-Y109.47
*RES 4: Y110.14 61.8% Fibo of Y111.40-Y108.11
*RES 3: Y109.75/83 50% of Y111.40-Y108.11, May 25 high
*RES 2: Y109.37/47 38.2% Y111.40-Y108.11, recovery high May 28
*RES 1: Y109.11/23 Hourly recovery high May 29, May 28 low
*PRICE: Y108.92 @0919GMT
*SUP 1: Y108.35/40 Hourly support
*SUP 2: Y108.02/11 50% Fibo Y104.63-Y111.40, May 29 low
*SUP 3: Y107.78 Apr 13 high, now support
*SUP 4: Y107.39 Equality fall from Y109.83 to Y111.40-Y108.96
*COMMENTARY* Suffered from the appearance of a 'shooting star' candle close on
the daily chart last Monday, which resulted in a break beneath key Y109.15
support last Thursday. Tuesday we lost further support from Y108.95, resulting
in a fall towards the 50% Fibo retrace level at Y108.02. Resistance now from
Y109.11-Y109.23, with Y109.47 key above. Support Y108.40-Y108.35 but lose
Y108.02 and Y107.67-Y107.39 possible.

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