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Building momentum: *RES 4:.........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Building momentum:
*RES 4: 109.93    May 30 high
*RES 3: 109.59/62 50.0% retracement of Apr 24-Jun 25 decline / High May 31
*RES 2: 109.02    May 13 low
*RES 1: 108.93/96 38.2% retracement of Apr 24-Jun 25 decline/Intraday high
*PRICE: 108.92    @ 09:08 GMT July 9
*SUP 1: 108.28/19 Low Jul 8/100-hma
*SUP 2: 108.10/07 200-hma/21-dma
*SUP 3: 107.62    Channel resistance now support drawn off the Apr 24 high
*SUP 4: 107.53    Low Jul 3 and key support
USDJPY extends the recovery through Friday's post NFP highs to 108.96. More
importantly, the recent recovery has defined a key support level at 107.53 and
price action is once again trading outside and above the former bear channel
drawn off the Apr 24 high. A price sequence of higher highs and higher lows has
also been confirmed. Further gains are favoured with the focus on the May 13 low
at 109.02. A break here would open the May 31 high at 109.62.

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