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108.08 Key Hurdle Still Intact.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: 108.08 Key Hurdle Still Intact
*RES 4: 109.38 High Apr 6
*RES 3: 108.85 50% retracement of the Mar 24 - May 6 decline
*RES 2: 108.59 High Apr 10
*RES 1: 108.08/09 High Apr 16 and 17 / High May 19
*PRICE: 107.47 @ 10:32 BST May 22
*SUP 1: 107.30 Low May 19
*SUP 2: 106.74 Low May 13
*SUP 3: 106.40 Low May 11
*SUP 4: 105.99 Low May 6 and 7 low and bear trigger
USDJPY is unchanged. The pair rallied Tuesday to break 107.77, May 11 high. The
pair has also this week tested key resistance at 108.08, Apr 16 and 17 high
however a clear break is still required to signal a reversal. This would open
108.54, Apr 13 high and potentially 109.38, Apr 6 high further out. Key
near-term support has been defined at 106.74, May 13 low. An inability to hold
onto current highs followed by a break of 106.74 would resume a bearish focus.

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