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108-109 Range USDJPY eased to......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: 108-109 Range
USDJPY eased to fresh weekly lows of 108.16, but with lack of follow through
recovered to the 108.25/30 area. On the downside, bears need to clear the
108.00/05 level, which holds the 76.4% retrace of the Jun6-11 recovery, Jun 6
low & 2019 support line. Below here exposes the Jun 5 low & 61.8% retracement of
the Jan-Apr rally at 107.82/75. Bulls need to recover trendline resistance & Jun
11 high at 108.65/80, before opening a run at the 109.00 level. Consolidation
above opens the 21-dma, trendline off Apr highs & 38.2% retracement at
109.03/13/23.

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