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DOLLAR-YEN TECHS: Bearish Following Breach Of Key Support
*RES 4: 109.38 High Apr 6
*RES 3: 108.59 High Apr 10
*RES 2: 108.08 High Apr 16 and 17 and key resistance
*RES 1: 107.28/50 20-day EMA / Apr 30 Recovery High
*PRICE: 106.52 @ 16:34 BST May 7
*SUP 1: 105.99 Low May 6 and Intraday low
*SUP 2: 105.81 Low Mar 17
*SUP 3: 105.21 61.8% retracement of the Mar 9 - 24 rally
*SUP 4: 104.51 Low Mar 13
USDJPY traded firmer Thursday, but remains bearish. The pair stalled at 107.50
on Apr 30 and has since pulled back. On Wednesday the pair breached 106.36, Apr
30 low. The break reinforces bearish conditions supported too by MA studies that
continue to point south. Attention is on the next objectives at 105.81, Mar 17
low and 105.21, the 61.8% retracement of the Mar 9 - 24 rally. Key short-term
resistance is seen at 107.50, Apr 30 high.

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