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Bulls Eye 110 Area USDJPY came.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bulls Eye 110 Area
USDJPY came within touching distance of the 110 level yesterday on the back of
positive US data, with bulls now looking to close above here and the 38.2% fibo
of the May range and May 10 hourly highs at 110.05. A break here would extend
the uptrend towards the cloud base & 100-dma at 110.32/50. Bears look to take
out the May 13 low & 109 level to return the focus to the downside. This brings
the 50% retracement & Feb 1 low into view at 108.84/73, ahead of the 61.8%
retracement & Jan 16 low at 108.38/37.

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