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Bears Take The Initiative While....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bears Take The Initiative
While USDJPY remains in range, the failure to hold above 111.50 and the drop
back below its 21 and 55-dmas gives bears a slight edge. Bears continue to
target the 100-dma which is within touching distance at 110.52. A break below
here would target the 200-dma & August lows at 109.80/78. A close above
yesterday's high of 111.76 would see bulls regain the upper hand and focus on
the July 19 high at 113.17. 

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