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DOLLAR-YEN TECHS: 110 Proving A Step Too Far
Despite briefly taking out the 110 level USDJPY failed to close above here yet
again allowing bears to target the 21-dma & 61.8% retracement level at
109.38/13. Below here would allow a challenge of the Jan 31 low at 108.50. A
close above 110 is needed to bring the Dec 31 high & 50-dma at 110.48/42 into
view, ahead of cloud base resistance at 110.73.