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Breaks Higher And Pressures........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Breaks Higher And Pressures 200-DMA
*RES 4: 110.52 Bull channel top drawn off Aug 26 low
*RES 3: 109.93 High May 30
*RES 2: 109.32/37 High Aug 1 / 61.8% retracement Apr 24 - Aug 26 decline
*RES 1: 109.04/06 High Oct 28 / 200-DMA
*PRICE: 108.98 @ 05:34 GMT Oct 29
*SUP 1: 108.25 Low Oct 23
*SUP 2: 107.85 Low Oct 11
*SUP 3: 107.63 Trendline / channel support drawn off Aug 26 low
*SUP 4: 106.81 Low Oct 8
USDJPY was firmer yesterday, trading above former resistance at 108.94, Oct 17
high. This confirms the recent consolidation as a bull flag and marks a
resumption of the uptrend. Prices are testing the 200-DMA at 109.06 where a
clear break would open 109.32, Aug 1 high and 109.93, May 30 high. 110.52 marks
the projected top of a bull channel drawn off Aug 26 low and is an objective
further out. Support has been defined at 108.25, Oct 23 low.

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