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Bears re-focus on 105.50 zone:.....>

DOLLAR-YEN TECHS: Bears re-focus on 105.50 zone:
*RES 4: 107.82/94 21-dma/Low Jul 24
*RES 3: 107.42 50% retracement of Aug fall
*RES 2: 107.21 Low Jul 18
*RES 1: 107.09 High Aug 07
*PRICE: 106.24 @ 05:38 GMT Aug 07
*SUP 1: 105.52 Low aug 07
*SUP 2: 105.00 Psychological support
*SUP 3: 104.87 YTD low
*SUP 4: 104.56 Low Mar 26 2018
Early Tuesday trade saw USDJPY base ahead of 105.50, before extending recovery
back above 107.00, briefly, then pulling back. Technical indicators remain
bearish and the recent move below key support in the form of the late June low,
leaves bears ultimately focused on round number support at 105.00 and the flash
crash lows at 104.87. Bulls look for a quick recovery above 108.00 to reignite
upside momentum.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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