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Y112.65-Y112.87 The Barrier To.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Y112.65-Y112.87 The Barrier To This Recovery
*RES 4: Y113.25/33 61.8% Y114.74-Y110.84, Nov 16 high, 1% vol
*RES 3: Y113.09 Dec 4 high
*RES 2: Y112.87 Dec 5 high
*RES 1: Y112.65/70 Hourly resistance
*PRICE: Y112.64 @0935GMT
*SUP 1: Y112.15 Hourly support
*SUP 2: Y111.99 Dec 6 low
*SUP 3: Y111.73/81 Nov 30 low, hourly base Dec 1
*SUP 4: Y111.38/40 Nov 29, Dec 1 lows
*COMMENTARY* The hold at Y111.99 on Wednesday, kept the more important
Y111.81-Y111.73 support safe for the time being. The subsequent recovery has now
to deal with Y112.65-Y112.87 resistance, if this latest rally is to be more than
just corrective of the fall seen from Monday's Y113.09 peak. Support in the
meantime comes from the earlier Y112.15 level, a loss would caution now and
suggest the recovery was in trouble.

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