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Short term bearish risk remains:...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Short term bearish risk remains:
*RES 4: 109.02 May 13 low
*RES 3: 108.80 High Jun 11
*RES 2: 108.35/53 Broken trendline off Jan 3 low / High Jul 1
*RES 1: 107.92 High Jul 3
*PRICE: 107.82 @ 04:39 GMT July 4
*SUP 1: 107.53 Low Jul 3
*SUP 2: 107.10 Low Jun 26
*SUP 3: 106.78/65 Low Jun 25 / 76.4% of the Jan 3-Apr 24 rally
*SUP 4: 105.66 Bear channel base
USDJPY bulls have so far failed to capitalise on the recent trendline resistance
break and price action is trading back within the bear channel drawn off the Apr
24 high. Thus far, recovery efforts remain shallow highlighting the potential
bearish signal of Tuesday's bearish engulfing candle and the risk for USDJPY
weakness. 107.10 has been exposed. A break here would open the key level at
106.78. On the upside, a move above 108.53 is required to change the outlook.

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