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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: Y109.78 @ 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: Y108.11 100-DMA
*COMMENTARY: The recovery from the dip into the Y107.85-108.35 region where 55 &
100-DMAs and the 21-WMA (Y108.09) are situated has seen pressure return to the
200-DMA. Bulls continue to look for a close above Y110.72 to confirm traction
above the 200-DMA and return immediate focus to Y111.39-98. Daily studies
correcting from modestly O/S levels adds support to the bullish case. Bears now
need a close below Y109.01 to gain breathing room.