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DOLLAR-YEN TECHS: Remains Vulnerable Despite Recovery
*RES 4: 109.93 High May 30
*RES 3: 109.73 High Dec 2 and key resistance
*RES 2: 109.50 High Dec 30
*RES 1: 108.87 High Jan 2
*PRICE: 108.53 @ 17:25 GMT Jan 7
*SUP 1: 107.77 Low Jan 6
*SUP 2: 107.72 38.2% retracement of the Aug 26 - Dec 2 rally
*SUP 3: 107.10 50% retracement of the Aug 26 - Dec 2 rally
*SUP 4: 106.48 Low Oct 3
Despite Monday's bounce off the day low, USDJPY remains vulnerable to setbacks
after clearing support last week at 108.43, the Dec 4 low and 108.24, Nov 14
low. Furthermore, support at 107.89, the Nov 1 low has also been breached.
Yesterday's low of 107.77 marks the trigger for a fresh push lower that would
expose 107.72 and 107.10, both retracement levels. Resistance is at 108.87, Jan
2 high where a break is required to ease the bearish pressure.