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Bearish Trend Developing Having....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bearish Trend Developing
Having closed below double-bottom support yesterday, USDJPY extended declines
through 111.80. A close below the 100-dma (112.41) now seems a formality as
sharp falls in global equities further pressure the dollar. The outlook has now
turned bearish opening a move toward the Oct 26 low at 111.38, a break opens the
200-dma at 110.89. Bulls look to recover the 100-dma to stabilise the short-term
outlook. A break of 113.00 is needed before targeting a move back to the Dec 3
high & down trendline resistance at 113.85/86.

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