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112 And 50-DMA Act As Support......>

DOLLAR-YEN TECHS: 112 And 50-DMA Act As Support
Despite early attempts to extend the downtrend, the 50-dma just below 112
provided relatively strong support. A break below the 55-dma, currently at
111.85, would strengthen the bearish case, opening the up trendline & 100-dma
support at 111.26 and raising the prospect of a bearish reversal pattern. Bulls
need to recover the 21-dma at 112.94 to target 114 and return the focus to the
upside and the Oct 4 & Nov 2017 highs at 114.55/73.

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