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Pullback Likely A Correction.......>

DOLLAR-YEN TECHS: Pullback Likely A Correction
*RES 4: 110.67 High May 21
*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: 109.49 High Nov 7
*PRICE: 108.93 @ 10:31 GMT Nov 13
*SUP 1: 108.65 Low Nov 7
*SUP 2: 108.47 Channel base drawn off Aug 26 low
*SUP 3: 107.89 Low Nov 1
*SUP 4: 107.85 Low Oct 11
USDJPY is off recent highs but retains a bullish outlook. The positive tone
follows the recent strong recovery that began on Nov 1, off 107.89. This rally
marked a rebound off the bull channel base drawn off the Aug 26 low that
currently intersects at 108.47. While the channel base holds, potential remains
for an extension higher to maintain the bullish price sequence of higher highs
and higher lows. The focus is on 109.93 next. First support is 108.65.

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