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Building Momentum, but watch for...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Building Momentum, but watch for month-end:
*RES 4: 109.02 May 13 low
*RES 3: 108.80 High Jun 11
*RES 2: 108.42 Trendline resistance drawn off the Apr 24 high
*RES 1: 107.82/85 Low Jun 5 and recent bear trigger/200-hma
*PRICE: 107.48 @ 08:42 GMT June 26
*SUP 1: 106.78/65 Low Jun 25 / 76.4% of the Jan 3-Apr 24 rally
*SUP 2: 106.19 Bear channel base drawn off Apr 24 high
*SUP 3: 106.00 Round number support
*SUP 4: 104.87 Jan 3 low and major support
Fed Bullard remarks that he would not support a 50bp cut in July, underpinned
the dollar recovery yesterday. USDJPY has largely consolidated these gains to
hold toward the peak of its morning range. Bulls need to clear the 200-hma &
108.00 level to reignite upside momentum, opening trendline resistance at
108.42. Any move back under 107.00 brings the Jun 25 cycle low & 76.4%
retracement back into view.

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