Looking For A Breach Of Key........>

DOLLAR-YEN TECHS: Looking For A Breach Of Key Resistance

*RES 4: 110.96 High May 6

*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: 109.73 High Dec 2 and key resistance

*PRICE: 109.32 @ 05:54 GMT Dec 20

*SUP 1: 108.99 Low Dec 13

*SUP 2: 108.43 Low Dec 4 and Low Dec 9

*SUP 3: 108.24 Low Nov 14 and key support

*SUP 4: 107.89 Low Nov 1

USDJPY inched lower yesterday, however the broader picture is unchanged. The

outlook remains bullish with attention on the key near-term resistance at

109.73, Dec 2 high. A break of this level would confirm a resumption of the

uptrend that has been in place since Aug 26. This would open 109.93, May 30 high

and signal potential for gains above 110.00. Moving average studies are positive

reinforcing current bullish conditions. Key support is at 108.43.