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Consolidating Trend USDJPY.........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Consolidating Trend
USDJPY touched near 2-month highs of 112.28, before the China trade retaliation
headlines dented risk appetite with a move back under 112.00. Despite this, the
positive picture remains intact above 111.60 with bulls targeting a close above
112.00. Above here brings the July 19 high at 113.17 back into view, while a
break would suggest the longer-term uptrend is resuming. Bears need to recover
111.60 to return the outlook neutral and target the 100-dma at 110.70. Below
here sits the 200-dma at 109.76.

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