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Moving Away From Trendline.........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Moving Away From Trendline Support
*RES 4: 109.93 High May 30
*RES 3: 109.32/37 High Aug 1 / 61.8% retracement Apr 24 - Aug 26 decline
*RES 2: 109.29 High Oct 30 and key resistance
*RES 1: 108.90 High Oct 31
*PRICE: 108.42 @ 10:25 GMT Nov 4
*SUP 1: 107.98/89 Channel base drawn off Aug 26 low / Low Nov 1
*SUP 2: 107.85 Low Oct 11
*SUP 3: 107.44 38.2% retracement of Aug 26 - Oct 30 rally
*SUP 4: 107.04 Low Oct 10
USDJPY is firmer this morning. Trendline support managed to hold last week
despite strong selling pressure Thursday following Wednesday's inability to hold
the 200-DMA break and the day high of 109.29. The trendline is drawn off Aug 26
low and intersects at 107.98. To trigger a deeper sell-off, clearance of this
level is required together with a break of last weeks low of 108.89. This would
open 107.44. A move back above 109.00 would instead be bullish.

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