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Y108 key at the close: *RES 4:.....>

DOLLAR-YEN TECHS: Y108 key at the close:
*RES 4: 109.92 High May 30
*RES 3: 109.62 High May 31 and standard candle line high
*RES 2: 109.02 Low May 13 and key short-term resistance
*RES 1: 108.80 20-day EMA and just above the Jun 11 high
*PRICE: 108.09 @ 19:15 GMT June 19
*SUP 1: 107.88 Low Jun 6
*SUP 2: 107.81 Jun 5 low and bear flag base
*SUP 3: 107.46 Low Jan 4
*SUP 4: 107.00 Round number support
The pair showed below the 108.00 handle in response to the dovish Fed decision,
but the June 6th low held firm at 107.88. This cements the bearish conditions in
USDJPY, with markets now looking for a break of the 107.81 support to confirm a
resumption of weakness. A move above 109.00 is required threaten the bearish
tone, but there remains firm resistance layered between 108.62 - 108.80.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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