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110 Fades Again Despite trading....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: 110 Fades Again
Despite trading above the 110 level, USDJPY failed to build on gains with a
sharp retracement through Asia/Europe. The 110.00/20 area is growing in
importance having registered a series of previous highs, above here opens the
Dec 31 high & 50-dma at 110.48/57. Bears need to clear the 21-dma & 61.8%
retracement level at 109.22/13, before challenging the Jan 31 low at 108.50.

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