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108.99 now within reach: *RES 4:...>

DOLLAR-YEN TECHS: 108.99 now within reach:
*RES 4: 109.93 High May 30
*RES 3: 109.59/73 50.0% of the Apr 24-Jun 25 decline / 100-dma
*RES 2: 109.02 Low May 13
*RES 1: 108.93/99 38.2% of the Apr 24-Jun 25 decline / High Jul 10
*PRICE: 108.61 @ 04:42 GMT July 30
*SUP 1: 108.17/107.94 200-hma / Low Jul 24
*SUP 2: 107.21 Low Jul 18 and key support
*SUP 3: 107.10 Low Jun 26
*SUP 4: 106.78 Low Jun 25 and key support
USDJPY reinforced its bullish tone Monday. Having breached 108.38 last week, the
pair built on recent gains to touch 108.90 Monday and marginally higher
overnight in Asia. This puts the 108.99 July high within reach where and a break
and close above would indicate scope for further strength. Momentum studies
remain constructive, reinforcing the bullish theme. On the downside, losses
below 107.21 would offset the bullish outlook. Initial support lies at 107.94.

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