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DOLLAR-YEN TECHS: Upside Focus
*RES 4: 110.50 1.000 projection Aug 26 - Sep 18 rally from Oct 3 low
*RES 3: 109.93 High May 30
*RES 2: 109.49 High Nov 7 and bull trigger
*RES 1: 109.21 High Nov 26
*PRICE: 109.13 @ 10:37 GMT Nov 27
*SUP 1: 108.64 Low Nov 25
*SUP 2: 108.24 Low Nov 14 and key support
*SUP 3: 107.89 Low Nov 1
*SUP 4: 107.57 38.2% retracement of the Aug 26 - Nov 7 rally
USDJPY started the week on a firmer note and traded higher yesterday to breach
resistance at 109.07, Nov 18 high and a near-term directional trigger. The
short-term outlook is bullish following recent gains with the focus on
resistance at 109.49, Nov 7 high. Clearance of this level would confirm a
resumption of the uptrend that has been in place since Aug 26. 108.24 is key
support. Initial support though is at 108.64, Nov 25 low.