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Watching The 108.08 Key Hurdle.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Watching The 108.08 Key Hurdle
*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: 107.80 @ 10:41 BST May 21
*SUP 1: 107.30 Low May 19
*SUP 2: 106.74 Low May 13
*SUP 3: 106.40 Low May 11
*SUP 4: 105.99 Low May 6 and 7 low and bear trigger
USDJPY rallied Tuesday to break 107.77, May 11 high. The pair has also this week
tested key resistance at 108.08, Apr 16 and 17 high however a clear break is
still required to signal a reversal. This would open 108.54, Apr 13 high and
potentially 109.38, Apr 6 high further out. Key support has been defined at
106.74, May 13 low. An inability to hold onto current highs followed by a break
of 106.74 would resume a bearish focus.

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