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DOLLAR-YEN TECHS: Swift Intraday Bounce
*RES 4: 109.38 High Apr 6
*RES 3: 108.85 50% retracement of the Mar 24 - May 6 decline
*RES 2: 108.59 High Apr 10
*RES 1: 108.08/09 High Apr 16 and 17 / High May 19
*PRICE: 107.78 @ 16:51 BST May 29
*SUP 1: 107.09 Intraday low
*SUP 2: 106.74 Low May 13 and key intraday support
*SUP 3: 106.40 Low May 11
*SUP 4: 105.99 Low May 6 and 7 low and bear trigger
After starting the Friday session softer, prices sank through support to hit
107.09. A quick reversal followed, however, with prices looking to finish
positive and counter any bearish signals. To the upside, a clear break of 108.08
is still required to signal a bullish reversal. Key near-term support to watch
next is at 106.74, May 13 low. A break would resume a bearish focus and open
105.99, May 6 and 7 low.