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Channel Base Holds For Now *RES....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Channel Base Holds For Now
*RES 4: 110.67 High May 21
*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: 108.66 @ 10:38 GMT Nov 14
*SUP 1: 108.54 Channel base drawn off Aug 26 low
*SUP 2: 108.18 Low Nov 4
*SUP 3: 107.89 Low Oct 1 and key support
*SUP 4: 107.04 Low Oct 10
USDJPY is off recent highs. Key support is still the channel base at 108.54, the
channel is drawn off the Aug 26 low. A break if seen, would allow for a deeper
corrective decline and open 107.89, Nov 1 low. While the channel base holds
however, the outlook remains bullish. A broader recovery has been in place since
late August and trend conditions remain positive. The trigger for a resumption
of strength is 109.49, Nov 7 high.

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