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Correction Underway After..........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Correction Underway After Failure Below Y113.82
*RES 4: Y114.24/34 Equality rise from Y111.99, Nov 7 high
*RES 3: Y113.75/82 Dec 12 high, 76.4% Fibo of Y114.74-Y110.84
*RES 2: Y113.46 Hourly recovery high Dec 13
*RES 1: Y112.95/05 Hourly resistance
*PRICE: Y112.66 @1250GMT
*SUP 1: Y112.46/55 Dec 13 low, hourly support
*SUP 2: Y112.30/38 50% Y110.84-Y113.75, initial high Dec 6
*SUP 3: Y111.95/99 61.8% Fibo of Y110.84-Y113.75, Dec 6 low
*SUP 4: Y111.83 1% volatility band
*COMMENTARY* Unable to make an impression on the 76.4% Fibo retrace level at
Y113.82. Tuesday's rally pulling up shy at Y113.75. The subsequent fall and
break below Y113.13-Y113.09, has allowed some correction of the most recent rise
from the Dec 6 low at Y111.99. This has Y112.55-Y112.46 currently protecting
against a further Y112.38-Y111.95 fall. In the interim, resistance from
Y112.95-Y113.05 but likely requiring a move back through Y113.46 for impact.

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