Y110.60-Y110.78 Can Put A Brake....>

DOLLAR-YEN TECHS: Y110.60-Y110.78 Can Put A Brake On Any Near Term Recovery

*RES 4: Y111.29 Jul 28 high

*RES 3: Y111.05/10 Hourly congestion Jul 27-28

*RES 2: Y110.78 Jul 27 low, Jul 31 high

*RES 1: Y110.60/62 Hourly resistance, Jul 24 low

*PRICE: Y110.37 @0921GMT

*SUP 1: Y110.00 1% volatility band

*SUP 2: Y109.63 76.4% Y108.13-Y114.50, swing Y110.62-Y112.20

*SUP 3: Y109.38 4 month rising support line

*SUP 4: Y108.92 2% volatility band

*COMMENTARY* The decline currently resting alongside the lower 1% volatility

band at Y110.00. The likely next target however is at Y109.63, a combination of

a 76.4% Fibo retrace level and a swing target of last month's Y110.62-Y112.20

late recovery. In the meantime, look to Y110.60-62 for immediate resistance,

Y110.78 above. Back above here is currently the minimum requirement for any real

respite. Below Y109.63 and Y109.38-Y108.82 comes into play.