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Bearish Risk Remains Despite.......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bearish Risk Remains Despite Bounce
*RES 4: 109.85 High Jun 5 and key resistance
*RES 3: 108.54 High Jun 9
*RES 2: 107.64 High May 16 and key near-term resistance
*RES 1: 107.45 High Jun 25
*PRICE: 107.11 @ 06:14 BST Jun 26
*SUP 1: 106.07 Low Jun 23
*SUP 2: 105.99 Low May 6 and 7 and key support
*SUP 3: 105.81 Low Mar 17
*SUP 4: 105.21 61.8% Fibonacci retracement of the March Recovery Rally
USDJPY recovered Wednesday and the bounce extended into the Thursday session,
but bearish signs remain. The pair earlier this week cleared support at 106.58,
Jun 11 low confirming a resumption of the sell-off since Jun 5. Attention is on
support at 105.99, May 6 and 7 low. This is a key bear trigger where a break
would pave the way for a deeper retracement of the strong rally between Mar 9 -
24. Initial firm resistance is at 107.64, Jun 16 high.

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