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Resistance To Watch Is 108.16......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Resistance To Watch Is 108.16
*RES 4: 109.85 High Jun 5 and key resistance
*RES 3: 108.54 High Jun 9
*RES 2: 108.40 1.0% 10-dma envelope
*RES 1: 108.16 High Jul 1
*PRICE: 107.51 @ 16:56 BST Jul 7
*SUP 1: 106.80 Low Jun 26 and the intraday bear trigger
*SUP 2: 106.07 Low Jun 23
*SUP 3: 105.99 Low May 6 and 7 and key support
*SUP 4: 105.21 61.8% retracement of the Mar 9 - 24 rally
USDJPY failed to maintain gains for a second session, giving up ahead of 107.80.
To reinforce a positive theme, additional gains in price is required following
the recovery between Jun 23 - Jul 1. A break of 108.16 would open 108.54, Jun 9
high. On Jun 23, price traded through support at 106.58, Jun 11 low. This marked
a bearish development and continues to highlight the risk of a resumption of
weakness. The intraday bear trigger is 106.80.

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