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Weaker With Trendline Support......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Weaker With Trendline Support Exposed
*RES 4: 110.63 Bull channel top drawn off Aug 26 low
*RES 3: 109.93 High May 30
*RES 2: 109.32/37 High Aug 1 / 61.8% retracement Apr 24 - Aug 26 decline
*RES 1: 109.29 High Oct 30 and key short-term resistance
*PRICE: 108.28 @ 09:50 GMT Oct 31
*SUP 1: 108.25 Low Oct 23
*SUP 2: 107.85/84 Low Oct 11 / Channel support drawn off Aug 26 low
*SUP 3: 107.04 Low Oct 10
*SUP 4: 106.48 Low Oct 3
USDJPY is under pressure this morning following yesterday's inability to hold
onto the break of the 200-DMA yesterday and the day high of 109.29. The move
lower refocuses attention on 108.25, Oct 23 low and today's key support. A break
would open trendline / channel support at 107.84 drawn off the Aug 26 low.
Clearance of this level would likely trigger a deeper sell-off. On the upside, a
close above the 200-dma is now needed to cement the next move higher.