Softer With Support Cleared *RES...>

DOLLAR-YEN TECHS: Softer With Support Cleared

*RES 4: 109.93 High May 30

*RES 3: 109.73 High Dec 2 and key resistance

*RES 2: 109.50 High Dec 30

*RES 1: 108.87 High Jan 2

*PRICE: 108.06 @ 05:55 GMT Jan 6

*SUP 1: 107.77 Intraday low

*SUP 2: 107.72 38.2% retracement of the Aug 26 - Dec 2 rally

*SUP 3: 107.10 50% retracement of the Aug 26 - Dec 2 rally

*SUP 4: 106.48 Low Oct 3

USDJPY is under pressure. The pair last week cleared support at 108.43, Dec 4

low and 108.24, Nov 14 low to further reinforce a developing short-term bearish

threat. Furthermore, support at 107.89 next, the Nov 1 low is also under

pressure. A clear breach of this level would expose 107.72 and 107.10, both

retracement levels. Near-term resistance has been defined at 108.87, Jan 2 high

where a break is required to ease the current downward cycle.