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Double-Bottom Support Holds For....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Double-Bottom Support Holds For Now
USDJPY managed to hold above its double bottom support level despite briefly
breaking below the 100-dma, keeping the near-term outlook neutral. A downside
break below 112.68 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 113.00 to build on recent momentum, targeting a move back to the Dec
3 high & down trendline resistance at 113.85/88. Above here opens a run at the
114 level.

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