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Close Above 112 Remains Key A......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Close Above 112 Remains Key
A close above 112 remains the key to reignite upside momentum, but resistance
was holding once again at the time of writing keeping USDJPY grounded. A close
above channel top resistance at 112.00 would bring the 76.4% fibo into view at
112.27, the 50% retracement level & Dec 20 high sit just above here at
112.44/60. Bears need to clear the 100 & 200-dmas at 111.39/35 to stabilise the
outlook, while a break of the Feb 15 low & 50-dma at 110.26/109.85 is needed to
shift momentum back to the downside.

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