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DOLLAR-YEN TECHS: Y108.85 Loss Is A Near Term Concern
*RES 4: Y110.20 Hourly highs Aug 31, Sep 1
*RES 3: Y109.88/94 Aug 31 low, Sep 4 high
*RES 2: Y109.55 Hourly recovery high Sep 5
*RES 1: Y109.25/35 Hourly resistance
*PRICE: Y108.72 @1638GMT
*SUP 1: Y108.60/64 Aug 18, Aug 21 lows
*SUP 2: Y108.43 1% volatility band
*SUP 3: Y108.13/27 Apr 17, Aug 29 lows
*SUP 4: Y107.33/36 2% vol band, 1.618 swing Y108.73-Y110.95
*COMMENTARY* The break back below Y108.85 is a concern, leaving the
Y108.64-Y108.43 area to protect the downside against another tilt at the year's
previous Y108.27-Y108.13 lows. In the interim, resistance falls to
Y109.25-Y109.55, a move back above the latter is currently needed to revive any
near term upside interest. A loss of Y108.27 would negate any further benefit
from last Tuesday's bullish outside day, below Y108.13 and scope for Y107.36.