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CPI In The Spotlight

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Y110.72 Resistance Key This Week
*RES 4: Y111.39 High May 21 
*RES 3: Y111.18 High May 22 
*RES 2: Y110.72 Hourly support May 22 now resistance 
*RES 1: Y110.20 200-DMA
*PRICE: Y109.80 @ 2130GMT
*SUP 1: Y109.36 Low June 4 
*SUP 2: Y109.01 Hourly support June 1 
*SUP 3: Y108.70 Low June 1 
*SUP 4: Y108.12 100-DMA
*COMMENTARY: Tuesday's sell-off saw the pair dip into the Y107.85-108.16 region
where 55 & 100-DMAs and the 21-WMA (Y108.09) are situated. Bears now need a
close below Y109.01 to gain breathing room. Bears continue to look for a close
below Y107.85 to confirm breaks of 55 & 100-DMAs and shift initial focus to
Y106.60. Daily studies correcting from O/S add support to the case for a test of
Y110.72 with a close above needed to return immediate focus to Y111.39-98.