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Bears Eye Key Support *RES 4:......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bears Eye Key Support
*RES 4: 109.38 High Apr 6 and near-term bull trigger
*RES 3: 109.06 High Apr 9
*RES 2: 108.59 High Apr 10
*RES 1: 108.08 High Apr 16 and 17
*PRICE: 107.27 @ 05:57 BST Apr 28
*SUP 1: 106.92/93 Low Apr 1 and bear trigger / Low Apr 15
*SUP 2: 106.76 Low Mar 18
*SUP 3: 106.45 50.0% retracement of the Mar 9 - 24 rally
*SUP 4: 105.81 Low Mar 17
USDJPY does little to change the bearish outlook. The pair continues to hover
above support at 106.92, Apr 1 low. Attention remains on this key level
following the recent failure at 109.38 on Apr 6. Losses through 106.92 would be
bearish and expose 106.45, a Fibonacci retracement and potentially below. In
order to reinstate a bullish theme, clearance of 109.38 is required. Initial
resistance though and an important intraday hurdle is at 108.08, Apr 16/17 high.

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