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Bullish outlook improves: *RES.....>

DOLLAR-YEN TECHS: Bullish outlook improves:
*RES 4: 109.59/77 50.0% of the Apr 24-Jun 25 decline / 100-dma
*RES 3: 108.99/109.02 High Jul 10 / Low May 13
*RES 2: 108.93 38.2% of the Apr 24-Jun 25 decline
*RES 1: 108.79/80 Cloud base / High Jun 11
*PRICE: 108.62 @ 04:37 GMT July 26
*SUP 1: 108.03/94 200-hma / Low Jul 24
*SUP 2: 107.21 Low Jul 18
*SUP 3: 107.10 Low Jun 26
*SUP 4: 106.78 Low Jun 25 and key support
USDJPY breached 108.38 yesterday, the high of July 16. A positive close above
this level is also an encouraging sign for bulls and paves the way for an
extension towards the key 108.99 resistance next. Momentum studies are
constructive, reinforcing the underlying bullish theme. On the downside, losses
below 107.21 would offset the bullish outlook and instead expose support at
106.78. Initial support though lies at 107.94, the low of Jul 24.

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