Forex

As indicated last week the break below 107.04 support line of the consolidation pattern was a bearish signal and saw a new multi year low yesterday. But strong bounce in the stock market towards the US close saw JPY losing ground and it might have bottomed out for now. Looks very much up to the stock market what happens in this pair going forward. Also have some key levels with 2005 low of 101.67 in sight, so should have a bit potential to bounce if that level is tested.
Support: 102.50 (key level), 101.67 (2005 low)
Resistance: 104.95 (former 2008 low), 105.70 (former key support), 107.04 (former rising support), 107.25 (falling res), 108.63 (overhead res), 110.00, 110.70, 112.80 (key level) 114.60 (key level), 114.73 (reaction high 11/7-07)