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Back Above Channel Support *RES....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Back Above Channel Support
*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: 108.86/87 High Nov 14 / Intraday high
*PRICE: 108.81 @ 05:50 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. The channel is drawn off the Aug 26 low. A clear
breach of Thursday's high of 108.86 and 109.00 would likely offset last weeks
bearish price action. This would instead signal scope for a retest of key
resistance at 109.49, Nov 7 high and the trigger for a resumption of the broader
uptrend. A break of 108.24 is required to resume the recent move lower.

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