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Sharp Rebound *RES 4: 110.36.......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Sharp Rebound
*RES 4: 110.36 High May 23
*RES 3: 109.88 1.0% 10-dma envelope
*RES 2: 109.73 High Dec 2 and key resistance
*RES 1: 109.50 High Dec 30
*PRICE: 109.24 @ 05:48 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 yesterday goes a long way to repairing the recent
bearish technical outlook. The strong close yesterday suggests the pair is
likely to push higher near-term with the focus shifting to the Dec 30 high of
109.50, also the next resistance. A break of this level would expose key
resistance at 109.73, Dec 2 high where a breach would confirm a resumption of
the underlying bull trend. Key support has been defined at 107.65.

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