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Y109.75-Y109.83 Resistance Still...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Y109.75-Y109.83 Resistance Still Proving Troublesome
*RES 4: Y110.62 76.4% Fibo of Y111.40-Y108.11
*RES 3: Y110.49 1% volatility band
*RES 2: Y110.14 61.8% Fibo of Y111.40-Y108.11
*RES 1: Y109.75/83 50% Y111.40-Y108.11, Jun 1 & May 25 highs
*PRICE: Y109.47 @0840GMT
*SUP 1: Y109.20/30 Hourly support
*SUP 2: Y109.08 May 30 high, now support
*SUP 3: Y108.72 Jun 1 low
*SUP 4: Y108.39 May 31 low
*COMMENTARY* The recovery from last Tuesday's drop to Y108.11 has finally
reached the base of Y109.75-Y109.83 resistance, where it has been halted over
the last couple of days. While capped here, then look for support from between
Y109.30-Y109.08. Loss of the latter would spoil recent upside momentum and see
scope for a Y108.72-Y108.39 fall. Above Y109.83 and scope for a higher
Y110.14-Y110.62 recovery, as the correction of losses from Y111.40 unwinds.

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