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109.29 Resistance Cleared *RES.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: 109.29 Resistance Cleared
*RES 4: 111.08 Bull channel top drawn off Aug 26 low
*RES 3: 110.50 1.000 projection Aug 26 - Sep 18 rally from Oct 3 low
*RES 2: 109.93 High May 30
*RES 1: 109.49 High Nov 7
*PRICE: 109.26 @ 05:44 GMT Nov 8
*SUP 1: 108.65 Low Nov 7
*SUP 2: 108.26/107.89 Channel base drawn off Aug 26 low / Low Nov 1
*SUP 3: 107.85 Low Oct 11
*SUP 4: 107.44 38.2% retracement of Aug 26 - Oct 30 rally
USDJPY rebounded sharply yesterday reinforcing the current bullish outlook and
triggering a break of former resistance at 109.29, Oct 30 high. The latest rally
follows a bounce off trendline support last week that managed to hold despite
strong selling pressure. The trendline is drawn off Aug 26 low and intersects at
108.26. The breach of 109.29 confirms a resumption of the uptrend and opens
109.93 next. First support 108.65, yesterday's low.

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