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Arrives at its bear channel........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Arrives at its bear channel base:
*RES 4: 107.21/18 Low Jul 18 / 50% retracement of the Aug fall
*RES 3: 107.09 High Aug 06
*RES 2: 106.47 High Aug 7
*RES 1: 105.78/98 100-hma / hourly resistance Aug 9
*PRICE: 105.48 @ 04:24 GMT Aug 13
*SUP 1: 105.05 Low Aug 12
*SUP 2: 105.00 Psychological support
*SUP 3: 104.87 YTD low
*SUP 4: 104.56 Low Mar 26 2018
USDJPY breached key 105.50 level last week with the downtrend extending to
105.05 Monday. Technical conditions remain bearish with focus on the
psychological 105.00 level, ahead of flash crash ytd low at 104.87. The latter
represents a major support. Bulls need to clear last Tuesday's high at 107.09 to
signal scope for a corrective recovery. Note too that USDJPY is trading at the
bottom of it bear channel drawn off the Apr 24 high, today at 105.26.

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