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DOLLAR-YEN TECHS: Breaks Key 110.00/20 Zone
Broad-based dollar demand took out the key 110.00/20 area which has previously
been hard to overcome. This brings the 50-dma & Dec 31 high at 110.35/48 into
view, ahead of the 100-wma & 61.8% retracement level at 110.79/85. On the
downside bears target the 21-dma & 61.8% retracement level at 109.44/18, a break
opens a move toward the Jan 31 low at 108.50.