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Back Above 110 JPY outperformed....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Back Above 110
JPY outperformed overnight on the back of sharp falls in regional equities.
USDJPY touched 109.71 (lowest levels since mid-Feb), before recovering back
above the 110 handle. Bears initial downside target is the Feb 8 low at 109.65,
below here opens the 38.2% retracement of the Jan-Feb rally at 109.36. Bulls
need to recover 111.00 & the 100-dma at 111.18 to stabilise the outlook, above
here brings the 200-dma & broken channel support-turned-resistance into view at
111.45/70.

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