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The Y108.75-Y108.54 Area Is Key....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: The Y108.75-Y108.54 Area Is Key To Retaining Upside Momentum
*RES 4: Y110.27 61.8% Fibo of Y113.75-Y104.63
*RES 3: Y110.04 May 2 high
*RES 2: Y109.75/80 Initial basing area May 2, now resistance
*RES 1: Y109.40/45 Hourly resistance
*PRICE: Y109.13 @1610GMT
*SUP 1: Y108.65/75 May 4 low, 7 week rising support line
*SUP 2: Y108.54 Apr 24 low 
*SUP 3: Y108.21 1% volatility band
*SUP 4: Y107.97 38.2% Fibo of Y104.63-Y110.04
*COMMENTARY* Finally cleared troublesome Y109.51-Y109.61 resistance last
Tuesday, but the rise has subsequently been contained by the upper 1% volatility
band. This has allowed some correction of recent gains and am aware that the
rally from the Mar 23 low at Y104.63 is beginning to look mature and a cap below
the Nov 27 low at Y110.84 is possible. Meanwhile, support from Y109.50-Y109.18
has been lost leaving the Y108.75-Y108.54 area as now key.

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