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

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bullish Them Intact
*RES 4: 111.08 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: 109.16 @ 17:22 GMT Nov 8
*SUP 1: 108.65 Low Nov 7
*SUP 2: 108.26/107.89 Channel base drawn off Aug 26 low / Low Nov 1
*SUP 3: 107.85 Low Oct 11
*SUP 4: 107.44 38.2% retracement of Aug 26 - Oct 30 rally
Despite pulling back today, USDJPY remains bullish having rebounded sharply
yesterday, reinforcing the current bullish outlook by triggering a break of
former resistance at 109.29, Oct 30 high. The latest rally follows a bounce on
Nov 1 off trendline support drawn off the Aug 26 low that intersects at 108.26.
The breach of 109.29 confirms a resumption of the uptrend and opens 109.93 next.
First support is 108.65, yesterday's low.

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