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112 Holding On The global risk.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: 112 Holding On
The global risk outlook spilled over through Europe/NY. USDJPY touched 6-week
highs of 111.99, before meeting resistance ahead of 112.00. A break here opens
the Mar 5 high at 112.14, the 50% retracement level of 125.86-99.02 is placed
behind at 112.44, ahead of the Dec 19 high & 50-mma at 112.67/70. Bears need to
clear the 100-dma & Apr 10 low at 110.88/84 to re-ignite downside momentum,
opening the 38.2% retracement level of 104.56-114.55 & Mar 29 low at 110.73/54.

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