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Y109.51-Y109.61 On Sustained.......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Y109.51-Y109.61 On Sustained Break Above Y109.19
*RES 4: Y110.00/27 2% vol band, 61.8% Fibo of Y113.75-Y104.63
*RES 3: Y109.79 Feb 8 high, 
*RES 2: Y109.61 1.618 swing of Y109.20-Y108.54
*RES 1: Y109.51 1.618 projection target from Y105.66
*PRICE: Y109.20 @0832GMT
*SUP 1: Y108.70/80 Hourly support
*SUP 2: Y108.54 Apr 24 low
*SUP 3: Y108.36 Hourly base Apr 23
*SUP 4: Y107.78 Apr 13 high, now support
*COMMENTARY* Having capped the rally on Tuesday, the 50% Fibo retrace level at
Y109.19 is under assault today. A sustained break will allow Y109.51-Y109.61
next, a projection target from the Apr 2 base at Y105.66 and the swing of the
recent Y109.20-Y108.54 pullback. Meanwhile, nearest support rises to
Y108.80-Y108.70 and then importantly that Y108.54 low. Support from Y108.65
should really have held the dip yesterday. Y110.00-Y110.27 next targets higher.

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