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Consolidation Theme USDJPY.........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Consolidation Theme
USDJPY staged a minor recovery off Friday's lows to consolidate around the
109.50/55 area. Initial resistance is seen at Y109.70/75 from a series of
previous highs, above here opens a run at 110.00. Bulls need to clear this level
on a closing basis, before challenging the 21 & 100-dma's at 110.27/56. Bears
continue to look for a break of 109.27 to extend the downtrend towards the May
13 low at 109.02. Below here opens the 50% retracement of 99.02-118.66 & Jan 31
low at 108.84/50.

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