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DOLLAR-YEN TECHS: Sitting On 106.96 Key Support:
*RES 4: 109.32 High Aug 1 and key resistance
*RES 3: 109.00 Round number resistance
*RES 2: 108.47/48 High Oct 1 / Sep 18 High and bull trigger
*RES 1: 107.89 High Oct 2
*PRICE: 107.09 @ 09:08 GMT Oct 3
*SUP 1: 107.03 50-dma
*SUP 2: 106.96 Low Sep 24 and key near-term support
*SUP 3: 106.87 2.0% Lower Bollinger Band
*SUP 4: 106.47 50% retracement of Aug 26 - Sep 18 rally
After starting the week positively, USDJPY retreated from the 108.48 resistance
Tuesday. The pair is sitting just above key short-term support at 106.96, Sep 24
low. An ability to remain above this level would keep in place the recent
bullish outlook, looking for a break above resistance at 108.48. A 108.48 break
would confirm a resumption of the uptrend. A failure though would expose the
downside and open 106.47, a 50% retracement level.