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'Shooting Star' Candle Close.......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: 'Shooting Star' Candle Close Raises Near Term Concerns
*RES 4: Y112.03/06 Dec 15, Jan 2 lows, now resistance
*RES 3: Y111.81 2 month bull channel top projection
*RES 2: Y111.60 76.4% Fibo of Y113.75-Y104.63
*RES 1: Y111.40/48 May 21 high, 1% vol band, Jan 18 high
*PRICE: Y111.02 @1530GMT
*SUP 1: Y110.80 Hourly support
*SUP 2: Y110.61 May 18 low
*SUP 3: Y110.35 Hourly highs/lows May 16-17
*SUP 4: Y110.04 May 2 high, May 16 low
*COMMENTARY* Tried to break through the upper 1% volatility band on Monday but
frustrated by resistance from Y111.40, just ahead of the Jan 18 high at Y111.48.
The subsequent 'shooting star' close on the daily chart raises some concerns, so
eyes initially on Y110.80-Y110.61 support. Loss of the latter would weaken
immediate upside argument and put pressure back on Y110.35. Main support still
from 2 month bull channel at Y109.95. Above Y111.48 and Y111.60-Y111.81 next.

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