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Consolidating, But Remains.........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Consolidating, But Remains Bearish
*RES 4: 110.36 76.4% of the Mar 24 - May 6 decline
*RES 3: 109.85 High Jun 5 and key resistance
*RES 2: 108.54 High Jun 9
*RES 1: 107.64 High May 16 and key intraday resistance
*PRICE: 107.10 @ 10:39 BST Jun 23
*SUP 1: 106.58 Low Jun 11 and intraday bear trigger
*SUP 2: 106.40 Low May 11
*SUP 3: 105.99 Low May 6/7 and key support
*SUP 4: 105.81 Low Mar 17
USDJPY is consolidating but maintains a bearish outlook. A weaker tone was
confirmed on Jun 8. A bearish engulfing candle on this day highlighted a shift
in sentiment. Support at 107.09, May 29 low has also subsequently been cleared
reinforcing current bearish conditions and this suggests scope for a move
towards the key support of 105.99, May 6 and 7 low. Initial resistance remains
107.64, Jun 16 high. The bear trigger is 106.58.

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