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Crashes Through Resistance *RES....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Crashes Through Resistance
*RES 3: 109.93 High May 30
*RES 2: 109.73 High Dec 2 and key resistance
*RES 1: 109.32 High Dec 12
*PRICE: 109.12 @ 17:20 GMT Dec 12
*SUP 1: 108.43 Low Dec 4 and Low Dec 9
*SUP 2: 108.24 Low Nov 14 and key support
*SUP 3: 107.89 Low Nov 1
After a somewhat subdued session, the pair shot higher later in the session on
renewed hopes of a ceasefire to the US-China trade spat. Whether these gains are
held or not will be key to returning a semblance of stability as the pair
remains vulnerable though following the sharp rejection off the Dec 2 high of
109.73 high. To the downside, the next key support is 108.24, Nov 14 low. A
break would threaten a deeper sell-off towards 107.89, Nov 1 low. To resume the
uptrend and a bullish focus, price needs to retest and clear 109.73. This would
open 109.93, May 30 high and 110.50, a Fibonacci projection.

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