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DOLLAR-YEN TECHS: Closed Below The 200-dma
USDJPY closed below its 200-dma yesterday for the first time since early April
giving renewed bearish signals. Near-term support is seen at 111.29/23 from the
55-dma & 38.2% retracement, below here opens the 111.00 level, ahead of the Apr
10 low & 100-dma at 110.84/69. Bulls need to recover the 200-dma to reignite
upside momentum. This would bring the 112 level back into view, ahead of a run
at the Apr 24 & Dec 20 highs at 112.40/60.