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Y108.80-Y108.50 Protects...........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Y108.80-Y108.50 Protects Downside From Another Challenge
*RES 4: Y110.49/59 Jan 19 low, hourly highs Jan 23
*RES 3: Y110.19 Jan 17 low, now resistance
*RES 2: Y109.77/81 Intraday high, hourly base Jan 24
*RES 1: Y109.55/60 Hourly resistance
*PRICE: Y109.14 @1030GMT
*SUP 1: Y108.80 Hourly support
*SUP 2: Y108.50 Jan 25 low
*SUP 3: Y108.22/27 Sep 11, Aug 29 lows
*SUP 4: Y107.44 1.618x Y114.74-Y110.84 from Y113.75
*COMMENTARY* Broke slightly below Y108.60 support, a low of Y108.50 before
recovering swiftly, aided by some heavily oversold hourly conditions. Support
from above Y108.80 now protects the downside from another challenge,
Y108.27-Y108.22 still important below Y108.50. Resistance Y109.55-Y109.60 but
above Y109.81 is required to add more impetus to any rise and a better
correction of recent losses from Y111.23-Y111.48.

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