Monitoring The Bullish Engulfing...>

DOLLAR-YEN TECHS: Monitoring The Bullish Engulfing Reversal

*RES 4: 107.74 High Mar 5

*RES 3: 106.85 Low Mar 4

*RES 2: 106.34 High Mar 6

*RES 1: 105.92 High Mar 10 and key intraday resistance

*PRICE: 103.80 @ 06:04 GMT Mar 12

*SUP 1: 102.02 Low Mar 10

*SUP 2: 101.19 Low Mar 9 and bear trigger

*SUP 3: 100.32 1.500 projection of Apr 24 - Aug 26, 2019 move from Feb 20 high

*SUP 4: 99.54 Low August 2016

USDJPY rallied Tuesday following the rebound off the week's 101.19 low.

Nonetheless, recent losses below 104.46, Aug 26 low continue to weigh on the

pair. This confirmed a breach of a broad 104.46 - 112.26 range the pair has

traded within since January last year. It opens 100.00 with a range projection

at 98.00. One concern for bulls is Tuesday's candle pattern, a bullish engulfing

reversal. Key resistance and S/T risk parameter for bears is 105.92.