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DOLLAR-YEN TECHS: Consolidating Trend
Despite rejecting a break of 111.00, USDJPY encountered dip buying ahead of
110.70 to consolidate the recent uptrend. Bulls need a break of the handle to
bring the Feb 14 high & 200-dma into view at 111.13/31, above here opens the
111.35/45 area which registered a series of previous highs through December. A
downside break of the Feb 15 low & 50-dma at 110.26/02 would shift the outlook
bearish and bring the 109.50/55 level back into view which holds the Feb 6 low &
61.8% fibo support.