Y111.45-Y111.50 Presents Initial...>

DOLLAR-YEN TECHS: Y111.45-Y111.50 Presents Initial Resistance To Any Recovery

*RES 4: Y112.30/35 Hourly congestion area Nov 21-22

*RES 3: Y111.89 Nov 17 low, now resistance

*RES 2: Y111.69 Nov 24 high

*RES 1: Y111.45/50 Hourly resistance

*PRICE: Y111.12 @1658GMT

*SUP 1: Y110.82/84 1% volatility band, Nov 27 low

*SUP 2: Y110.69 Sep 13 high, 1.618 swing of Y111.07-Y111.69

*SUP 3: Y110.15 61.8% Fibo of Y107.32-Y114.74

*SUP 4: Y109.88 2% volatility band

*COMMENTARY* Last week saw the decline continue, leaving Y111.89-Y111.65 support

in it's wake. Yesterday, the fall broke below the next support of note, the 50%

Fibo retrace level at Y111.03. The loss here, now sees dual support from Y110.69

as the next potential target area, ahead of the 61.8%Fibo retrace at Y110.15.

Some earlier support seen from around the lower 1% volatility band but

resistance falls to Y111.45-Y111.50, the Y111.69-Y111.89 region above.