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Doji reversal: *RES 3: 109.02......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Doji reversal:
*RES 3: 109.02 Low May 13
*RES 2: 108.93/99 38.2% retracement of Apr 24-Jun 25 decline / High Jul 10
*RES 1: 108.35/61 200-hma / High Jul 12
*PRICE: 108.11 @ 15:39 GMT July 17
*SUP 1: 107.80 Low Jul 15
*SUP 2: 107.53 Low Jul 3
*SUP 3: 107.10/09 Low Jun 26 / Former channel resistance off the Jul 3 low
USDJPY remains at elevated levels, holding above support at 107.80, the low of
Jul 15. The bear channel breakout on Jul 1 highlighted a bullish price sequence
in the pair that remains in place. Wednesday's activity in candle terms is a
doji and suggests the recent corrective pullback has run its course. The focus
is on 108.99 resistance. Today the former channel top now support, intersects at
107.09 and represents a key level. However ideally for bulls, 107.80 needs to
hold.

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