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Bearish Pressure Persists RES 4:...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bearish Pressure Persists
RES 4: 108.15/16 1.0% 10-dma envelope / High Jul 1 and the bull trigger
RES 3: 107.79 High Jul 7
RES 2: 107.53 High Jul 20
RES 1: 106.90 Intraday high
PRICE: 105.87 @ 16:30 BST Jul 24
SUP 1: 105.76 Low Jul 24
SUP 2: 105.21 61.8% retracement of the Mar 9 - 24 rally
SUP 3: 104.83 2.0% 10-dma envelope
SUP 4: 104.51 Low Mar 13
USDJPY is weaker. Bearish pressure is likely to continue dominating near-term.
On Jun 10, support at 106.80, Jun 26 low was breached reinforcing a bearish
theme. On Friday, key support at 106.07/105.99, gave way, firming the downside
argument. A close below this area would represent an important bearish break. On
the upside, key short-term resistance is at 107.79, Jul 7 high. Initial firm
resistance though is 107.53. Jul 20 high.

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