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DOLLAR-YEN TECHS: Looking To Clear The 200-DMA
*RES 4: 110.61 Bull channel top drawn off Aug 26 low
*RES 3: 109.93 High May 30
*RES 2: 109.32/37 High Aug 1 / 61.8% retracement Apr 24 - Aug 26 decline
*RES 1: 109.06/07 200-DMA / High Oct 29
*PRICE: 108.83 @ 05:51 GMT Oct 30
*SUP 1: 108.25 Low Oct 23
*SUP 2: 107.85 Low Oct 11 / Channel support drawn off Aug 26 low
*SUP 3: 107.04 Low Oct 10
*SUP 4: 106.81 Low Oct 8
USDJPY remains bullish, reinforced by Monday's move higher through resistance at
108.94, Oct 17 high. This confirmed the recent consolidation was a bull flag and
resumes the uptrend. Prices have tested the 200-DMA at 109.06, a clear break
would further reinforce the trend and open 109.32, Aug 1 high and 109.93, May 30
high. 110.61 marks the projected top of a bull channel drawn off Aug 26 low and
is an objective further out. Support is 108.25, Oct 23 low.