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105.50 key support: *RES 3:........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: 105.50 key support:
*RES 3: 107.41 50% retracement of Aug fall
*RES 2: 107.21 Low Jul 18
*RES 1: 107.09 High Aug 06
*PRICE: 106.17 @ 14:49 GMT Aug 08
*SUP 1: 105.50 Low Aug 07
*SUP 2: 105.00 Psychological support
*SUP 3: 104.87 YTD low
USDJPY has so far failed to clear 106.30/35 and keeps the longer-term downtrend
intact. Technical indicators continue to display a bearish outlook, returning
the immediate focus to yesterday's low at 105.50. A break here would open the
psychological 105.00 level, ahead of the flash crash ytd low at 104.87. Bulls
need to clear recent highs at 107.09, before challenging the 50% retracement of
the Aug fall & broken trendline support-turned-resistance drawn off the Apr 24
high at 107.41/58.

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