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Base Formed Ahead of 108.00........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Base Formed Ahead of 108.00
USDJPY formed a base ahead of 108.00, but has so far failed to gain traction.
Bulls need to clear the Jun 5 high at 108.49, to return the focus to the 200-hma
(108.85) & 109 level. Further resistance is located at 109.27/39 from the 38.2%
retracement & 21-dma. On the downside bears look for a close below 108.00,
before challenging the Jun 5 low & 61.8% retracement of the Jan-Apr rally at
107.82/75.

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