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Trendline Support Holds For Now....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Trendline Support Holds For Now
*RES 4: 110.73 Bull channel top drawn off Aug 26 low
*RES 3: 109.93 High May 30
*RES 2: 109.32/37 High Aug 1 / 61.8% retracement Apr 24 - Aug 26 decline
*RES 1: 109.29 High Oct 30 and key short-term resistance
*PRICE: 108.02 @ 10:16 GMT Nov 1
*SUP 1: 107.91/89 Channel support drawn off Aug 26 low / Intraday low
*SUP 2: 107.85 Low Oct 11
*SUP 3: 107.44 38.2% retracement of Aug 26 - Oct 30 rally
*SUP 4: 107.04 Low Oct 10
USDJPY was under pressure yesterday following Wednesday's inability to hold onto
the 200-DMA break and the day high of 109.29. The move lower cleared support at
108.25, Oct 23 low, worsening the outlook. Trendline support drawn off the Aug
26 low has also been tested. The line intersects at 107.91, a break would
provide an additional threat and open the 107.44 retracement. The pair needs to
recapture yesterday's highs to signal a retest of 109.29.

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