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Bulls Targeting YTD Highs USDJPY...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bulls Targeting YTD Highs
USDJPY continues to trade either side of the 112 level with topside focus on the
March 5 high at 112.14. A break above here would open the 76.4% retracement of
the Oct - Jan fall at 112.25, ahead of the 50% retracement of 125.86-99.02 & Dec
20 high at 112.44/60. Bears need a break back under the 200-dma (111.52) to
suggest a false bullish break. Below here would open the 100-dma & Apr 10 low at
110.85/84, ahead of the 38.2% retracement level of 104.56-114.55 & Mar 29 low at
110.73/54.

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