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Bulls Clinging On To 112 USDJPY....>

DOLLAR-YEN TECHS: Bulls Clinging On To 112
USDJPY has recovered 112 with bulls needing a close above to change the
short-term outlook. A break of 112.50 opens the 50% retracement of October's
downtrend at 113.09, above here targets the double-top resistance area at
113.45/50. Failure to recover 112 would allow bears to target the 100-dma at
111.34, raising the prospect of a bearish reversal pattern.

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