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100-dma in Focus to the Downside...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: 100-dma in Focus to the Downside
After briefly trading below the the broken up trendline on Friday, USDJPY has
traded below it throughout Monday. Downside momentum has picked up and the
100-dma at 112.05 is the next key support level for the pair. Below here would
shift the outlook decidedly bearish, opening the Oct 26 low at 111.38. The up
trendline is providing resistance at 112.87 ahead of the 21-dma at 113.08. Above
here, bulls need to recover 114, targeting a move toward the ytd high at 114.55
which would confirm the resumption of the bigger picture bullish trend, opening
option-related resistance at 115.

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