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DOLLAR-YEN TECHS: Aiming Higher
*RES 4: 112.40 High Apr 24 2019 25
*RES 3: 112.23 High Feb 20 and key near-term resistance
*RES 2: 111.68 High Feb 24
*RES 1: 111.43 Intraday high
*PRICE: 111.39 @ 16:25 GMT Mar 20
*SUP 1: 107.89 Low Mar 19
*SUP 2: 106.76 Low Mar 18
*SUP 3: 105.81 Low Mar 17
*SUP 4: 105.15 Low Mar 16
USDJPY rallied sharply higher across the final two sessions of the week to
confirm the reversal pattern that unfolded on Mar 10. A bullish engulfing
reversal on Mar 10 provided an early bullish signal and the subsequent recovery
confirmed this pattern. The focus is on the Feb 20 high 112.23 where a break
would suggest scope for a stronger bullish extension. On the downside, the
Thursday low of 107.89 marks initial support.