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Support At 108.99 Breached *RES....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Support At 108.99 Breached
*RES 4: 110.96 High May 6
*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: 109.73 High Dec 2 and key resistance
*PRICE: 108.70 @ 05:52 GMT Dec 31
*SUP 1: 108.63 Intraday low
*SUP 2: 108.43 Low Dec 4 and Low Dec 9
*SUP 3: 108.24 Low Nov 14 and key support
*SUP 4: 107.89 Low Nov 1
Sharp losses dominated price action in USDJPY yesterday. The pair cleared
initial support at 108.99, Dec 19 low. While a pullback is considered
corrective, the break of 108.99 does suggest scope for a deeper near-term
correction with the next supports located at 108.43 and 108.24. A break through
these levels and below 107.89, Nov 1 low would signal scope for a stronger
reversal. A move above 109.73, Dec 2 high is needed to resume the uptrend.

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