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Consolidating Trend USDJPY based...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Consolidating Trend
USDJPY based at 109.81 (100-hma) yesterday establishing a higher low to keep the
recovery alive. Bulls now look to the May 20 high at 110.31 to extend the rally
towards the 100/21-dma's at 110.51/66. Above here would suggest a further
recovery towards 111, ahead of the 200-dma at 111.43. Bears need to take out
yesterday's low to return the focus to the May 13 low & 109.00. Further support
is located at 108.84/73 from the 50% retracement level & Feb 1 low.

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