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Bulls Need to Recover 113 USDJPY...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bulls Need to Recover 113
USDJPY failed to hold above the 113.00 level yesterday with USD unwinds spilling
over through Asia/Europe. The 21-dma remains intact at 112.62 with bears looking
for a close below to return the outlook neutral. A break of broken trendline
resistance turned support at 112.20 would see bears regain control, targeting
the 100-dma at 111.67 ahead of the Oct 26 low at 111.38. Bulls need to recover
the 113 handle to keep the medium-term uptrend intact, before focusing on a
break of 114 and the Oct highs at 114.54.

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