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Back to the Future: 110.60.........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Back to the Future: 110.60 Resistance
111 proved hard to hold on to for USDJPY as the cross retraced back through
previous resistance around 110.60 before finding support at the 50-dma at
110.18. A break below here would shift the near term outlook negative. Bears now
look for a return to the 110 level which proved tough resistance on the way up.
Below here would threaten to prematurely end the uptrend. The 200-dma at 111.30
is the next upside target ahead of a run at last year's highs.

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