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109.07/108.24 Still The............>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: 109.07/108.24 Still 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: 108.59 @ 05:41 GMT Nov 21
*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 continue to trade sideways and recently 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. For now
109.07 and 108.24 remain the current directional triggers.

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