111 a Step Too Far USDJPY..........>

DOLLAR-YEN TECHS: 111 a Step Too Far

USDJPY touched highs of 110.91 but again failed to trouble the 111.00 level

which has proved hard to overcome in recent sessions. A very quiet week has seen

the pair contained to a narrow 50 pip range with US-China trade headlines

expected to drive as we approach the Mar 1 deadline. A topside break opens the

Feb 14 high & 200-dma at 111.13/31, ahead of a run at the 111.35/45 area which

registered a series of previous highs through December. A downside break of the

Feb 15 low & 50-dma at 110.26/109.91 would shift the outlook bearish and bring

the 109.50/55 level back into view which holds the Feb 6 low & 61.8% fibo

support.