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Bullish Conditions Still In........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bullish Conditions Still In Place
*RES 4: 111.15 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: 108.97 @ 10:38 GMT Nov 11
*SUP 1: 108.65 Low Nov 7
*SUP 2: 108.33 Channel base drawn off Aug 26 low
*SUP 3: 107.89 Low Nov 1
*SUP 4: 107.85 Low Oct 11
USDJPY is softer this morning as the USD corrects. The outlook remains bullish
following the recent strong recovery that began on Nov 1, off 107.89. This rally
marked a rebound off trendline support drawn off the Aug 26 low that currently
intersects at 108.33. Last weeks gains saw prices trade above the former
resistance at 109.29, Oct 30 high. The breach of 109.29 confirms a resumption of
the uptrend and opens 109.93 next. First support is 108.65, Oct 7 low.

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