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Close Below 50-dma Would Be........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Close Below 50-dma Would Be Bearish
After serving as firm support on two occasions in recent weeks, spot fell below
the 50-dma at 111.34 with little fanfare as month-end related dollar sales
pressed the pair lower throughout the session. A close below the 50-dma would
see bears target a break of the 111.00 handle, opening the Apr 10 low & 100-dma
at 110.84/71. Bulls need to recover the 200-dma on a closing basis to keep the
recent uptrend intact. This would bring the 112 level back into view, ahead of a
run at the Apr 24 & Dec 20 highs at 112.40/60.

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