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DOLLAR-YEN TECHS: 110 Proved Hard To Overcome
Despite taking out the 110 level a number of times this week, USDJPY has failed
to close above, allowing bears to target the 21-dma & 61.8% retracement level at
109.37/13. A break here opens a move toward the Jan 31 low at 108.50. Bulls need
a close above 110 to bring the 50-dma & Dec 31 high at 110.42/48 into view,
ahead of the 100-wma at 110.79.