Y113.50-55 Now Becomes Near Term...>

DOLLAR-YEN TECHS: Y113.50-55 Now Becomes Near Term Resistance

*RES 4: Y114.45/60 Oct 27 high, 1% volatility band

*RES 3: Y114.10 Hourly congestion Oct 26-27

*RES 2: Y113.84 Oct 30 high, 1% volatility band

*RES 1: Y113.50/55 Hourly resistance

*PRICE: Y113.26 @1007GMT

*SUP 1: Y112.96/05 Intraday low, 50% of Y111.65-Y114.45

*SUP 2: Y112.70/72 Initial high Oct 19, 61.8% Fibo retrace

*SUP 3: Y112.29/31 Oct 19 low, 76.4% of Y111.65-Y114.45

*SUP 4: Y111.65 Oct 16 low

*COMMENTARY* Monday's loss of Y113.50 support, has started a correction, the

subsequent loss of Y113.24 adding fuel to the fire. Is currently finding support

from Y112.96, as some near term oversold conditions come into play. Y113.50-55

now becomes resistance, Y113.84-Y114.10 on any break higher. Need back above the

latter before bias can return higher. Below Y112.96 and look for the correction

to continue, Y112.72-Y112.29 the next area of support.