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Dollar Weakness Meets Risk On......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Dollar Weakness Meets Risk On
USDJPY broke below the 200-dma yesterday amid broad based dollar weakness but
found some support at the 55-dma just below at 111.29. Risk on sentiment is
providing support to the pair, but a close below the 55-dma would see bears
target a break of the 111.00 handle, opening the Apr 10 low & 100-dma at
110.84/69. Bulls need to recover the 200-dma on a closing basis to keep the
recent uptrend intact. This would bring the 112 level back into view, ahead of a
run at the Apr 24 & Dec 20 highs at 112.40/60.

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