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Consolidating Gains Risk...........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Consolidating Gains
Risk appetite underpinned through Asia which saw USDJPY extend the recovery to
110.95. Bulls need a weekly close above the 111 level & 100-dma (111.05) to
suggest a resumption of the broader rally, opening the 200-dma & Mar 20 high at
111.46/69. Bears continue to look for a downside break of 110 to return the
focus to the Mar 25 low at 109.71. Below here opens the Feb 7 low & 50%
retracement level at 109.61/56.

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