Y110.50 Support Protects Against...>

DOLLAR-YEN TECHS: Y110.50 Support Protects Against Fresh Downside Interest

*RES 4: Y112.06/17 Jan 2 low, 61.8% of Y113.39-Y110.19

*RES 3: Y111.70/88 Jan 12, Jan 11 highs

*RES 2: Y111.48 Jan 18 high

*RES 1: Y111.25 Hourly resistance

*PRICE: Y110.61 @0930GMT

*SUP 1: Y110.50 Hourly support

*SUP 2: Y110.15/19 61.8% of Y107.32-Y114.74, Jan 17 low

*SUP 3: Y109.79 Equality fall from Y113.69 to Y114.74-Y110.84

*SUP 4: Y109.39 1.618 swing of Y110.19-Y111.48

*COMMENTARY* Has found support from the 61.8% Fibo retrace level at Y110.15, the

subsequent rally correcting some of the recent losses from last week's Y113.39

high. In this respect, look to Y111.25-Y111.48 for initial resistance,

Y111.70-Y111.88 then the brake to more important Y112.06-Y112.17 levels. As a

consequence, support rises to Y110.50, loss of the latter would caution now and

put pressure back on the downside.