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DOLLAR-YEN TECHS: 106.98 is the support to watch:
*RES 4: 109.32 High Aug 1 and key resistance
*RES 3: 108.48 Sep 18 High and bull trigger
*RES 2: 108.09 High Sep 20
*RES 1: 108.80 High Sep 23 and 24
*PRICE: 107.33 @ 08:48 GMT Sep 25
*SUP 1: 106.98 High Aug 13 and former breakout level
*SUP 2: 106.48 1.0% Lower Bollinger band
*SUP 3: 106.47 50% retracement of Aug 26 - Sep 18 rally
*SUP 4: 106.00 61.8% retracement of Aug 26 - Sep 18 rally
USDJPY continued to retrace yesterday having recently found resistance at
108.48, Sep 18 high. This recent pullback is still viewed as a correction.
108.48 is the trigger for a resumption of gains that would open 109.00 and
109.32. Note a recent bearish engulfing candle and the breach of support at
107.46 is a concern for bulls. A move below the key 106.98 support, Aug 13 high
would expose the pair to a deeper pullback.