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Break Above Y111.05 Still Needed...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Break Above Y111.05 Still Needed To Continue Recovery
*RES 4: Y112.20 Jul 26 high
*RES 3: Y111.64/72 76.4% of Y112.20-Y109.84, Jul 28 high
*RES 2: Y111.29/30 Jul 28 high, 61.8% of Y112.20-Y109.84
*RES 1: Y111.02/05 50% of Y112.20-Y109.84, Aug 4 high
*PRICE: Y110.77 @1502GMT
*SUP 1: Y110.25 Intraday low
*SUP 2: Y110.15 Aug 4 hourly congestion area
*SUP 3: Y109.84 Aug 3 low
*SUP 4: Y109.63 76.4% Y108.13-Y114.50, swing Y110.62-Y112.20
*COMMENTARY* Support found from Y109.84 last Thursday, slightly above the lower
1% volatility band at the time but so far keeping us from a test to what looks
stronger support from Y109.63 and the 4 month support line and the 1% band at
Y109.46. The subsequent rise has now found the impetus for a move back above
Y110.70. This sees Y111.02-Y111.72 as the next potential bar to a recovery, as
we correct losses from Y112.20. Support Y110.25-Y110.15.

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