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DOLLAR-YEN TECHS: Trades Through 109.73 Key Resistance
*RES 4: 110.67 High May 21
*RES 3: 110.53 76.4% retracement of the Apr 24 - Aug 26 decline
*RES 2: 110.36 High May 23
*RES 1: 109.94 High Jan 13
*PRICE: 109.90 @ 16:19 GMT Jan 13
*SUP 1: 109.45 Intraday low
*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
USDJPY is bullish following last week's strong rebound and has extended this
theme Monday with a breach of key resistance at the Dec 2 high of 109.73. 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. A break
higher has opened 109.93 and exposes 110.00 and beyond. Initial support now lies
at 109.45, Monday's intraday low.