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50-DMA Support Gains Importance....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: 50-DMA Support Gains Importance
The 50-dma acted as support on both Thursday and Friday last week but the level
is under attack once again today at 111.87. A close below here would go a long
way to cementing a negative medium-term outlook, 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 112.94 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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