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Consolidating around 106.00:.......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Consolidating around 106.00:
*RES 4: 107.57 High Aug 2
*RES 3: 106.98 High Aug 13 and key resistance
*RES 2: 106.74 Aug 23 high and recent congestion area
*RES 1: 106.41 High Aug 26
*PRICE: 106.18 @ 08:23 GMT Aug 29
*SUP 1: 104.46 Low Aug 26 and YTD low
*SUP 2: 104.00 Psychological round number
*SUP 3: 103.66 76.4% retracement of the Jun - Dec, 2016 rally
*SUP 4: 102.71 1.00 projection of Aug 1 - Aug 12 decline from Aug 13 high
USDJPY has settled down since staging an impressive bounce Monday off the YTD
104.46 low. While downside momentum may still prove to be erratic going forward,
bearish conditions remain in place and the recent failure ahead of 107.00
continues to weigh on the pair. Risk is for a break of 104.46 to open 104.00 and
the 103.66 retracement. On the upside, clearance of 106.98 is required to signal
a reversal.

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