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DMA's Key at The Close JPY.........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: DMA's Key at The Close
JPY outperformed in Asia amid the backdrop of renewed global economic growth.
Sharp falls in Chinese equities pressured USDJPY through the 100 & 200-dma's to
110.95. This brings the 100-wma & 38.2% retracement of 104.56-114.55 back into
view at 110.82/73. Below here opens the Feb 22/Feb 19 lows at 110.56/45. To
reignite upside momentum bulls need to clear the 112 level, which has so far
proved hard to overcome. Consolidation above would target the Mar 5 high &
channel top resistance at 112.14/44.

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