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Cycle lows usher in fresh..........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Cycle lows usher in fresh bearish pressure:
*RES 4: 109.02 May 13 low
*RES 3: 108.80 High Jun 11
*RES 2: 108.42 Trendline resistance drawn off the Apr 24 high
*RES 1: 107.87/82 200-hma/Low Jun 5 and recent bear trigger
*PRICE: 107.47 @ 04:50 GMT June 26
*SUP 1: 106.78/65 Low Jun 25 / 76.4% of the Jan 3-Apr 24 rally
*SUP 2: 106.19 Bear channel base drawn off Apr 24 high
*SUP 3: 106.00 Round number support
*SUP 4: 104.87 Jan 3 low and major support
USDJPY printed a cycle low of 106.78 yesterday as risk-off flows dominated price
action across Asia-Pac hours. These mark the lowest USDJPY levels since the Jan
3 flash crash. Despite squeezing back above 107.00, recovery efforts have been
muted and for now, the downtrend remains in place. The focus is on the 76.4%
retracement at 106.65 where a break would open the bear channel base at 106.19.
107.82, the Jun 5 low and recent breakout level is resistance.

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