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Bullish Focus Remains In Place *RES 4:...>

DOLLAR-YEN
DOLLAR-YEN: Bullish Focus Remains 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: 109.18 @ 05:40 GMT Nov 12
*SUP 1: 108.65 Low Nov 7
*SUP 2: 108.40 Channel base drawn off Aug 26 low
*SUP 3: 107.89 Low Nov 1
*SUP 4: 107.85 Low Oct 11
USDJPY traded lower Monday, however the outlook remains bullish. This follows
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 108.40. Last weeks gains saw prices trade above the former resistance at
109.29, Oct 30 high. The breach confirms a resumption of the uptrend and opens
109.93 next. First support is 108.65, Nov 7 low.

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