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Bounces off YTD low: *RES 4:.......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bounces off YTD low:
*RES 4: 107.57 High Aug 2
*RES 3: 106.98 High Aug 13 and key resistance
*RES 2: 106.74 Aug 23 high and recent congestion area
*RES 1: 105.96 Intraday high
*PRICE: 105.83 @ 08:18 GMT Aug 26
*SUP 1: 104.46 Intraday low and YTD low
*SUP 2: 104.00 Psychological round number
*SUP 3: 103.66 76.4% retracement of the Jun - Dec, 2016 rally
*SUP 4: 102.71 1.00 projection of Aug 1 - Aug 12 decline from Aug 13 high
USDJPY has traded to a fresh low for the year at 104.46 in early Asia confirming
a resumption of the primary downtrend. Bearish trend conditions remain in place
and the recent failure ahead of the 107.00 level is also weighing on the pair.
Activity has been volatile so far today with a strong bounce seen off the lows.
However, the risk remains for a move lower and a break of 104.46 would open
104.00 and the 103.66 retracement. Initial resistance is at 105.80.

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