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DOLLAR-YEN TECHS: Focus Still On 108.48 Resistance:
*RES 4: 109.62 High May 31
*RES 3: 109.32 High Aug 1 and key resistance
*RES 2: 109.00 Round number resistance
*RES 1: 108.47/48 High Oct 1 / Sep 18 High and bull trigger
*PRICE: 107.85 @ 04:49 GMT Oct 2
*SUP 1: 107.43 Low Sep 26
*SUP 2: 107.16 1.0% Lower Bollinger band
*SUP 3: 106.96 Low Sep 24 and key near-term support
*SUP 4: 106.47 50% retracement of Aug 26 - Sep 18 rally
After starting the week positively, USDJPY retreated from the 108.48 resistance
as a dire ISM number dragged the greenback lower. The broader technical picture
though is unchanged and the focus remains on the Sep 18 high of 108.48.
Clearance of this level would reinforce the overall bullish tone and pave the
way for a climb towards open 109.00 and 109.32. On the downside, key support
remains at 106.96, Sep 24 low.