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Trendline Support Holds For Now....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Trendline Support Holds For Now
*RES 4: 109.93 High May 30
*RES 3: 109.32/37 High Aug 1 / 61.8% retracement Apr 24 - Aug 26 decline
*RES 2: 109.29 High Oct 30 and key resistance
*RES 1: 108.90 High Oct 31
*PRICE: 108.57 @ 17:50 GMT Nov 4
*SUP 1: 107.98/89 Channel base drawn off Aug 26 low / Low Nov 1
*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 has remained bid for much of the day. Trendline support managed to hold
last week despite strong selling pressure Thursday, following Wednesday's
inability to hold the 200-DMA break and the day high of 109.29. The trendline is
drawn off Aug 26 low and intersects at 107.98. To trigger a deeper sell-off,
clearance of this level is required together with a break of last weeks low of
108.89. This would open 107.44. A move above 109.00 would be bullish.

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