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Bulls focus on Jul 16 high: *RES...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bulls focus on Jul 16 high:
*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: 108.38 High Jul 16
*PRICE: 108.10 @ 08:39 GMT July 25
*SUP 1: 107.97/70 200-hma/ Low Jul 22
*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 consolidates either side of the 108.00 level and keeps the short-term
uptrend intact for now. Next resistance is seen at 108.38, the high of Jul 16, a
break here would be an encouraging sign for bulls and pave the way for an
extension towards the key 108.99 resistance. 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.

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