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Doji reversal: *RES 4: 109.59/62...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Doji reversal:
*RES 4: 109.59/62 50.0% retracement of Apr 24-Jun 25 decline / High May 31
*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: 108.30/61 200-hma / High Jul 12
*PRICE: 108.03 @ 08.58 GMT July 16
*SUP 1: 107.80 Low Jul 15
*SUP 2: 107.53 Low Jul 3
*SUP 3: 107.18 Former channel resistance drawn off the Jul 3 low
*SUP 4: 107.10 Low Jun 26
Recovery efforts in USDJPY have been capped ahead of 108.10. Despite this, the
uptrend holds. The bear channel breakout on Jul 1 highlighted a bullish price
sequence in the pair that remains in place. Yesterday's activity in candle terms
is a doji and suggests the recent corrective pullback has run its course,
further reinforcing the bullish theme. The focus is on 108.99. Today the former
channel top now support, intersects at 107.18 and represents a key level.

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