Strikes Multi-month Highs But......>

DOLLAR-YEN TECHS: Strikes Multi-month Highs But Fails to Hold

*RES 3: 109.93 High May 30

*RES 2: 109.32/37 High Aug 1 / 61.8% retracement Apr 24 - Aug 26 decline

*RES 1: 109.29 High Oct 30

*PRICE: 108.77 @ 19:33 GMT Oct 30

*SUP 1: 108.25 Low Oct 23

*SUP 2: 107.85 Low Oct 11 / Channel support drawn off Aug 26 low

*SUP 3: 107.04 Low Oct 10

Rate spiked on release of Fed rate decision, breaking firmly above the 200-dma

and printing the best levels since early August. The gains were fleeting,

however, prompting markets retrace and settle either side of the Y109 mark. The

moves remain constructive, but a close above the 200-dma is now needed to cement

the next move higher. This would open 109.32, Aug 1 high and 109.93, May 30

high. 110.61 marks the projected top of a bull channel drawn off Aug 26 low and

is an objective further out. Support is 108.25, Oct 23 low.