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Trendline Support Remains Intact...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Trendline Support Remains Intact
*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: 108.22 @ 05:31 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 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 back above 109.00 would instead be good news for bulls.

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