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112 Proves Key Support Thursday....>

DOLLAR-YEN TECHS: 112 Proves Key Support
Thursday trade was a far more subdued affair than Wednesday trade, with the rate
sticking to a tight 112-112.50 range. 112 provided relatively strong support and
below there the 50-dma at 111.83 will prove influential. A break below here
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 112.93 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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