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DOLLAR-YEN TECHS: Y111.24-Y111.04 Support Protects Y110.84 November Low
*RES 4: Y112.50/55 Congestion area Jan 9
*RES 3: Y112.37/38 Jan 9 low, Jan 10 hourly recovery high
*RES 2: Y112.17 Initial low Jan 10, now resistance
*RES 1: Y111.82/88 Hourly resistance, intraday high
*PRICE: Y111.64 @0955GMT
*SUP 1: Y111.24/27 1.618 swing Y112.06-Y113.39, Jan 10 low
*SUP 2: Y111.04 1.618 swing of Y112.03-Y113.64
*SUP 3: Y110.84 Nov 27 low
*SUP 4: Y110.28 2% volatility band
*COMMENTARY* A further downside push saw dual support from the Y111.53 area give
way on Wednesday. As previously suggested, then any lower and have to allow an
overshoot to two recent swing targets at Y111.24 and Y111.04 respectively. These
present the last protection to the Nov 27 low at Y110.84. Meanwhile,
Y111.82-Y111.88 now provides immediate resistance but eyes are probably on the
higher Y112.17-Y112.38 region before any chance of a real recovery.