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112 Under Pressure Risk-off........>

DOLLAR-YEN TECHS: 112 Under Pressure
Risk-off sentiment has been triggered by the drop in US stocks, which has seen
USDJPY extend losses following the drop below its 21-dma, with the 50-dma at
111.83 in sight. 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 now need to close back above the 21-dma at
112.93 to target the 114 level and return the focus to the upside and the Oct 4
& Nov 2017 highs at 114.55/73.

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