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DOLLAR-YEN TECHS: Looking For An Extension Higher
*RES 4: 111.45 1.236 projection of Aug 26 - Sep 18 rally from Oct 3 low
*RES 3: 110.53/67 76.4% of the Apr 24 - Aug 26 decline / High May 21
*RES 2: 110.36 High May 23
*RES 1: 110.29 High Jan 17 and bull trigger
*PRICE: 109.90 @ 17:21 GMT Jan 22
*SUP 1: 109.76 Low Jan 21
*SUP 2: 109.45 Low Jan 13
*SUP 3: 109.01 Low Jan 9
*SUP 4: 107.65 Low Jan 8 and key support
USDJPY is unchanged and maintains a bullish theme. Last week's break of 109.73,
Dec 2 high reinforced the positive tone, confirming a resumption of the uptrend
that has been in place since Aug 26. Momentum and MA studies are still pointing
north reinforcing current bullish conditions. The focus is on 110.53, a
Fibonacci retracement and 110.67, the May 21 high next. Initial support is