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Bearish Risk Still Present *RES....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bearish Risk Still Present
*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: 106.91 @ 10:42 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 recent gains have stalled with the pair softer this morning, the outlook
remains bearish. Earlier this week USDJPY 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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