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DOLLAR-YEN TECHS: Attention Turns To The 109.49 Bull Trigger
*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: 109.15 Nov 13 high
*PRICE: 109.05 @ 10:41 GMT Nov 18
*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 Thursday at 111.43, however prices have since
traded back above the channel and remain firm this morning. The channel is drawn
off the Aug 26 low. Today has seen the pair clear Thursday's high of 108.86 and
the 109.00 handle and this offsets last weeks bearish price action. Attention is
back on the underlying bull trend and the focus is on key resistance at 109.49,
Nov 7 high and the trigger for a resumption of the broader uptrend.