Focus is on bullish engulfing:.....>

DOLLAR-YEN TECHS: Focus is on bullish engulfing:

*RES 4: 109.32 High Aug 1 and key resistance

*RES 3: 109.00 Round number resistance

*RES 2: 108.48 Sep 18 High and bull trigger

*RES 1: 107.96 High Sep 26

*PRICE: 107.86 @ 08:39 GMT Sep 27

*SUP 1: 106.96 Low Sep 24 and key near-term support

*SUP 2: 106.68 1.0% Lower Bollinger band

*SUP 3: 106.47 50% retracement of Aug 26 - Sep 18 rally

*SUP 4: 106.00 61.8% retracement of Aug 26 - Sep 18 rally

The focus in USDJPY is on Wednesday's recovery where, at the days close the

bounce resulted in the formation of a strong candle pattern, a bullish engulfing

reversal. The significance of this pattern is reinforced by the fact that, apart

from a brief probe 106.98, Sep 13 high provided support. Attention is on the

108.48 bull trigger, Sep 18 high where a break would open 109.00 and 109.32.

First support lies at 106.96, Tuesday's low.