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Y106.46-Y106.55 The Next...........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Y106.46-Y106.55 The Next Obstacle To Recovery
*RES 4: Y107.20/28 Mar 1 high, 76.4% of Y107.91-Y105.25
*RES 3: Y107.11 2 month falling resistance line
*RES 2: Y106.74 76.4% Fibo of Y107.20-Y105.25
*RES 1: Y106.46/55 61.8% Y107.20-Y105.25, initial low Mar 1
*PRICE: Y106.03 @0920GMT
*SUP 1: Y105.70/75 Hourly support
*SUP 2: Y105.50 Congestion area Mar 2-Mar 5, 1% vol band
*SUP 3: Y105.25 Mar 2 low
*SUP 4: Y104.53 2% volatility band
*COMMENTARY* Had continued to lose ground since last Monday's Y107.68 high. The
subsequent loss of the previous Y105.55 low reached Y105.25 last Friday, before
finding some near term respite from some oversold hourly conditions. With the
move above Y106.00, now has Y106.46-Y106.55 in the way of further gains and
better recovery of some of those losses. As a consequence, support rises to
Y105.75-Y105.50, loss of the latter would swing bias lower again. 

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