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DOLLAR-YEN TECHS: 109.07/108.24 Mark The Directional Triggers
*RES 4: 110.50 1.000 projection Aug 26 - Sep 18 rally from Oct 3 low
*RES 3: 109.93 High May 30
*RES 2: 109.49 High Nov 7 and bull trigger
*RES 1: 109.07 High Nov 18
*PRICE: 108.48 @ 05:44 GMT Nov 20
*SUP 1: 108.24 Low Nov 14
*SUP 2: 107.89 Low Nov 1 and key support
*SUP 3: 107.57 38.2% retracement of the Aug 26 - Nov 7 rally
*SUP 4: 107.04 Low Oct 10
USDJPY cleared its channel support last week at 111.43. The channel is drawn off
the Aug 26 low. Prices however have since traded either side of the channel
base. It would take a break above 109.07 to reinforce a bullish theme and reopen
the key resistance at 109.49, Nov 7 high. A break below 108.24 however would
instead be bearish and open 107.89, Nov 1 low. To conclude, 109.07 and 108.24
are seen as the current directional triggers.