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Break Of 110 Failed Again..........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Break Of 110 Failed Again
Despite trading above the 110 level, USDJPY failed to build on gains with a
sharp retracement through Asia. The 110.00/20 area is growing in importance
having registered a series of previous highs, above here opens the Dec 31 high &
50-dma at 110.48/57. Bears need to clear the 21-dma & 61.8% retracement level at
109.22/13, before challenging the Jan 31 low at 108.50.

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