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Bearish Threat Still Present.......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bearish Threat Still Present
*RES 4: 110.29 High Jan 17 and bull trigger
*RES 3: 109.87 High Jan 23
*RES 2: 109.65 High Jan 24
*RES 1: 109.27 High Jan 29
*PRICE: 108.76 @ 17:09 GMT Jan 30
*SUP 1: 108.65 Low Jan 27
*SUP 2: 108.45 200-dma
*SUP 3: 108.27 76.4% retracement of the Jan 8 - Jan 17 rally
*SUP 4: 107.65 Low Jan 8 and key support
After a decent intraday recovery earlier in the week, the selling pressure
resumed Thursday. We have argued that the recent pullback is likely a correction
with underlying bullish conditions intact. Nonetheless, the bearish risk
strengthened with the show below 108.73, the Monday low. If the pair however is
able to hold above recent lows and recover above 109.87, this would be bullish.
Any break low targets 108.27.

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