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JPY

Cycle Highs In Sight For USD/JPY

AUD

Outlook Remains Bearish

Still Seen Heading North *RES 4:...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Still Seen Heading North
*RES 4: 111.45 1.236 projection of Aug 26 - Sep 18 rally from Oct 3 low
*RES 3: 110.53/67 76.4% of the Apr 24 - Aug 26 decline / High May 21
*RES 2: 110.36 High May 23
*RES 1: 110.21 High Jan 14
*PRICE: 109.98 @ 16:37 GMT Jan 15
*SUP 1: 109.45 Low Jan 13
*SUP 2: 109.01 Low Jan 9
*SUP 3: 107.62 Low Jan 8
*SUP 4: 107.10 50% retracement of the Aug 26 - Dec 2 rally
Despite finding some resistance Tuesday, USDJPY remains bullish. This week's
break of the key former resistance at 109.73, Dec 2 high reinforces the positive
tone. The break represents a significant bullish development and confirms a
resumption of the underlying bull trend that has been in place since Aug 26 last
year. It has opened 110.53, a Fibonacci retracement and the 110.67, May 21 high
next. Initial support is seen at 109.45, Monday's low.