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112 Still Holds the Key USDJPY.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: 112 Still Holds the Key
USDJPY managed to hold the 112 level, up trendline support, and the 50-dma
yesterday despite early weakness, which keeps the positive trend intact. Bulls
need to overcome the 21-dma at 112.93 to target the YTD high at 114.55. Bears
look to close below 112 to push the cross lower and bring the the 100-dma at
111.52 back into play. A break of this level raises the prospect of a reversal
pattern.

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