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Bearish Risk Still Present *RES....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bearish Risk Still Present
*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: 107.14 @ 17:24 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
USDJPY recent gains stalled at the tail-end of the week, with the pair softer
into the close. This keeps the outlook bearish for now. 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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