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Sharp Rebound Extends *RES 4:......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Sharp Rebound Extends
*RES 4: 110.36 High May 23
*RES 3: 109.87 1.0% 10-dma envelope
*RES 2: 109.73 High Dec 2 and key resistance
*RES 1: 109.58 High Jan 9
*PRICE: 109.55 @ 16:13 GMT Jan 9
*SUP 1: 109.01 Intraday low
*SUP 2: 107.62 Low Jan 8
*SUP 3: 107.10 50% retracement of the Aug 26 - Dec 2 rally
*SUP 4: 106.81 Low Oct 8
A strong rebound in USDJPY extends and goes a long way to repairing the recent
bearish technical outlook. Markets look for a repeat performance of Wednesday's
strong close, suggesting the pair is likely to push higher still with the
near-term focus shifting to the Dec 2 high of 109.73. A break of which would
confirm a resumption of the underlying bull trend. Key support has been defined
at 107.65.

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