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Y109.63-Y109.21 Forms Some.........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Y109.63-Y109.21 Forms Some Congested Near Term Support
*RES 4: Y111.05 Aug 4 high
*RES 3: Y110.83 Aug 8 high
*RES 2: Y110.50/60 Congestion area Aug 4-Aug 7
*RES 1: Y110.10/25 Hourly resistance, initial low Aug 8
*PRICE: Y109.76 @0930GMT
*SUP 1: Y109.63 76.4% Y108.13-Y114.50, swing Y110.62-Y112.20
*SUP 2: Y109.48 4 month bull channel base
*SUP 3: Y109.21/34 1.618 swing Y109.91-Y111.05, 1% vol band
*SUP 4: Y108.82 Jun 14 low
*COMMENTARY* Finally getting a test to the Y109.63 area that we have been
calling for a while now. This at the top end of what looks a congested support
area between here and the swing target at Y109.21. Any lower and still have the
Jun 14 low at Y108.82 to negotiate, before the year's previous Y108.13 low comes
back into view. Meanwhile, look to Y110.10 and then more importantly Y110.25 for
resistance. Back above the latter now the minimum requirement for a bounce.

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