Y111.53 Overshoot Allows A.........>

DOLLAR-YEN TECHS: Y111.53 Overshoot Allows A Deeper Y111.24-Y111.04 Fall 

*RES 4: Y112.50/55 Congestion area Jan 9

*RES 3: Y112.37/38 Jan 9 low, intraday hourly recovery high

*RES 2: Y112.17 Initial intraday low, now resistance

*RES 1: Y111.72/82 Hourly resistance

*PRICE: Y111.41 @1308GMT

*SUP 1: Y111.24 1.618 swing of Y112.06-Y113.39

*SUP 2: Y111.04 1.618 swing of Y112.03-Y113.64

*SUP 3: Y110.84 Nov 27 low

*SUP 4: Y110.40 2% volatility band

*COMMENTARY* Continued downside exuberance has seen dual support from the

Y111.53 area give way today. As suggested earlier, then any lower and can 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,

Y111.72-Y111.82 now provides immediate resistance but eyes are probably on the

higher Y112.17-Y112.38 region before any chance of a real recovery.