Y109.51-Y109.61 Still The Next.....>

DOLLAR-YEN TECHS: Y109.51-Y109.61 Still The Next Region Of Resistance

*RES 4: Y110.22/27 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: Y109.28 @1607GMT

*SUP 1: Y108.75/85 Hourly support

*SUP 2: Y108.54 Apr 24 low

*SUP 3: Y108.13 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 relented under challenge on Wednesday. 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 Y108.85-Y108.75, loss will caution but eyes will likely be on the Apr 24 low

at Y108.54. Above Y109.61 and Y110.22-Y110.27 the next target range higher.