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Rally Approaches Y114.45-Y114.50...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Rally Approaches Y114.45-Y114.50 Resistance
*RES 4: Y115.51 Mar 10 high
*RES 3: Y115.37 1.618 swing of Y114.45-Y112.96
*RES 2: Y114.92 1% volatility band
*RES 1: Y114.45/50 Oct 27, Jul 11 highs
*PRICE: Y114.24 @1540GMT
*SUP 1: Y113.54/60 Nov 2 low, hourly support
*SUP 2: Y113.28 Hourly high/low Oct 31
*SUP 3: Y112.96 Oct 31 low
*SUP 4: Y112.70/72 Initial high Oct 19, 61.8% Fibo retrace
*COMMENTARY* Making the most of support found on Tuesday from Y112.96. The
subsequent recovery has been swift, on Wednesday heading through the pivotal
76.4% Fibo retrace level at Y114.10,and now through Y114.28. A sustained break
above and the Y114.45-Y114.50 region then becomes the next barrier higher,
perhaps to a Y114.92-Y115.37 rise. Meanwhile, Y113.60-Y113.54 still provides
support against any near term corrective action.
Foreign Exchange Technical AnalysisMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisMarketsForeign Exchange Bullets

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