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

DOLLAR-YEN TECHS: 112 Under Pressure
Risk-off sentiment triggered sales through 112.50, seeing the rate bottom out
after showing (briefly) below the 112 handle. Losses accelerated on a 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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