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Challenged 110.00 The risk.........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Challenged 110.00
The risk averse theme amid the backdrop of soft UST yields & weaker equities
pressured to 110.02. Rate later recovered to settle in the middle of its narrow
daily range. Bears look for a downside break of 110 to return the focus to the
Mar 25 low at 109.71. Below here opens the Feb 7 low & 50% retracement level at
109.61/56. Bulls need to recover the 111 level to suggest a resumption of the
broader rally, opening the 100-dma at 111.08, ahead of the 200-dma & Mar 20 high
at 111.45/69.

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