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USDJPY spikes above 108.80.........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: USDJPY spikes above 108.80. Looks like the pair is set to
resume its attack on resistance 108.94, Oct 17 high which has just been tested.
A clear breach of this level would confirm a resumption of the uptrend that has
been in place since Sep 26. This would open 109.32 and the 110.00 handle. Note,
a bull channel also exists drawn off the Sep 26 low and this intersects at
110.42 - an objective further out. Good support has been defined at 108.25.
Risk-on theme, with equity markets firmer also providing support.

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