Softer Having Stalled At...........>

DOLLAR-YEN TECHS: Softer Having Stalled At Monday's High

*RES 4: 109.38 High Apr 6

*RES 3: 108.59 High Apr 10

*RES 2: 108.08 High Apr 16 and 17 and key resistance

*RES 1: 107.77 High May 11 and close to the the 50-day EMA

*PRICE: 107.15 @ 16:35 BST May 14

*SUP 1: 106.40 Low May 11

*SUP 2: 105.99 Low May 6 and 7 low and bear trigger

*SUP 3: 105.81 Low Mar 17

*SUP 4: 105.21 61.8% retracement of the Mar 9 - 24 rally

USDJPY rallied sharply higher Monday and managed to breach resistance at 107.50,

Mar 30 high. However, the move has stalled at 107.77. A close north of 108.08 is

still required to highlight a reversal. Last week's breach of 106.36, Apr 30 low

reinforced bearish conditions supported still by MA studies that continue to

point south. A return lower would refocus attention on objectives at 105.81, Mar

17 low and 105.21, a retracement level.