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Bearish Case Strengthens USDJPY....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bearish Case Strengthens
USDJPY took out double-bottom support through 112.20 yesterday, confirming the
break below uptrend support. Bears still need to close below the 100-dma at
112.42 to shift the outlook firmly bearish and challenge option-related support
at 112.00, ahead of the Oct 29 low at 111.78. Bulls look to clear 113.00 to
build on recent momentum, targeting a move back to the Dec 3 high & down
trendline resistance at 113.85/87. Above here opens a run at the 114 level.

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