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Upside Focus *RES 4: 111.08 Bull...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Upside Focus
*RES 4: 111.08 Bull channel top drawn off Aug 26 low
*RES 3: 110.50 1.000 projection Aug 26 - Sep 18 rally from Oct 3 low
*RES 2: 109.93 High May 30
*RES 1: 109.49 High Nov 7
*PRICE: 109.34 @ 10:39 GMT Nov 8
*SUP 1: 108.65 Low Nov 7
*SUP 2: 108.26/107.89 Channel base drawn off Aug 26 low / Low Nov 1
*SUP 3: 107.85 Low Oct 11
*SUP 4: 107.44 38.2% retracement of Aug 26 - Oct 30 rally
USDJPY is firm having rebounded sharply yesterday reinforcing the current
bullish outlook and triggering a break of former resistance at 109.29, Oct 30
high. The latest rally follows a bounce off trendline support last week that
managed to hold despite strong selling pressure. The trendline is drawn off Aug
26 low and intersects at 108.26. The breach of 109.29 confirms a resumption of
the uptrend and opens 109.93 next. First support is 108.65, yesterday's low.

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