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Softer With Support Cleared *RES...>

DOLLAR-YEN TECHS
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.

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