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Double-bottom Support Holds........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Double-bottom Support Holds
USDJPY extended its decline through up trendline support & the 100-dma to
112.25, before double-bottom support cushioned falls. A downside break would
give control back to the bears, targeting option-related demand at 112.00, ahead
of the Oct 29 low at 111.78. Bulls need a close above the 100-dma (112.40) to
build on recent momentum, targeting a move back above 113.00. The Dec 3 high &
down trendline provide the next layer of resistance at 113.85/88, ahead of a run
at the 114 level.

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