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S/T Bullish Set-Up Confirmed.......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: S/T Bullish Set-Up Confirmed
*RES 4: 111.04 High Feb 25
*RES 3: 109.68 High Feb 28
*RES 2: 108.58 High Mar 2
*RES 1: 108.43 50-day EMA
*PRICE: 107.87 @ 18:39 GMT Mar 13
*SUP 1: 104.51 Low Mar 13
*SUP 2: 103.09 Low Mar 12
*SUP 3: 102.02 Low Mar 10
*SUP 4: 101.19 Low Mar 9 and bear trigger
USDJPY rallied Tuesday following the rebound off the week's 101.19 low.
Tuesday's price pattern developed into a bullish engulfing candle and this was
confirmed Friday following the break above resistance at 106.10, Mar 12 high.
With a short-term bullish condition confirmed, scope exists for strength towards
108.58 next, the Mar 2 high. A break would open 109.68. On the downside, initial
support lies at Friday's 104.51 low.

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