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Still Set To Head North *RES 4:....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Still Set To Head North
*RES 4: 111.15 Bull channel top drawn off Aug 26 low
*RES 3: 110.50 1.000 projection Aug 26 - Sep 18 rally from Oct 3 low
*RES 2: 109.93 High May 30
*RES 1: 109.49 High Nov 7
*PRICE: 109.16 @ 10:28 GMT Nov 12
*SUP 1: 108.65 Low Nov 7
*SUP 2: 108.40 Channel base drawn off Aug 26 low
*SUP 3: 107.89 Low Nov 1
*SUP 4: 107.85 Low Oct 11
USDJPY is off earlier highs but retains a bullish outlook. The bullish tone
follows the recent strong recovery that began on Nov 1, off 107.89. This rally
marked a rebound off trendline support drawn off the Aug 26 low that currently
intersects at 108.40. Last weeks gains saw prices trade above the former
resistance at 109.29, Oct 30 high. The breach confirms a resumption of the
uptrend and opens 109.93 next. First support is 108.65, Nov 7 low.

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