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Bullish Outlook Intact *RES 4:.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bullish Outlook Intact
*RES 4: 109.93 High May 30
*RES 3: 109.32/37 High Aug 1 / 61.8% retracement Apr 24 - Aug 26 decline
*RES 2: 109.06 200-DMA
*RES 1: 108.94 High Oct 17
*PRICE: 108.74 @ 05:44 GMT Oct 28
*SUP 1: 108.16 Low Oct 16
*SUP 2: 107.85 Low Oct 11
*SUP 3: 107.63 Trendline support drawn off Aug 26 low
*SUP 4: 106.81 Low Oct 8
USDJPY is consolidating however the pair maintains a bullish tone. The recent
consolidation appears to have taken on the shape of a bull flag, reinforcing the
bullish theme and the likelihood of higher prices near-term. The focus is on a
test of the 200-DMA at 109.06 where a clear break would open 109.32, Aug 1 high
and 109.93, May 30 high. The initial trigger for gains is at 108.94. Trendline /
channel support drawn off the Aug 26 low lies at 107.63.

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