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Back to 106.20: *RES 3: 107.57.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Back to 106.20:
*RES 3: 107.57 High Aug 2
*RES 2: 107.18/21 50% retracement of the Aug fall / Low Jul 18
*RES 1: 106.98 High Aug 13 and key resistance
*PRICE: 106.18 @ 14:57 GMT Aug 15
*SUP 1: 105.66 Low Aug 14
*SUP 2: 105.05 Low Aug 12 and key support
*SUP 3: 105.00 Psychological support
Despite the overarching risk aversion theme, bulls took out resistance layered
between 106.10-20, helping squeeze prices back toward the week's best levels. If
the bears claw back any momentum, this would open a return to support at 105.05
and the psychological 105.00 level. From a Japanese candle perspective however,
Monday's pattern is a bullish engulfing reversal, signalling a potential base.
However additional bullish confirmation is required with key resistance at
106.98 and 107.09, the Aug 13 and Aug 6 high respectively.

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