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Downside Pressure Resumes After....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Downside Pressure Resumes After 23.6% Fibo Retrace Caps
*RES 4: Y111.72 Jul 27 high
*RES 3: Y111.29 Jul 28 high
*RES 2: Y110.98 Aug 2 high
*RES 1: Y110.55/70 Hourly resistance
*PRICE: Y110.10 @0913GMT
*SUP 1: Y109.84 Aug 3 low
*SUP 2: Y109.63 76.4% Y108.13-Y114.50, swing Y110.62-Y112.20
*SUP 3: Y109.43 4 month rising support line
*SUP 4: Y109.25 1.618 swing of Y109.91-Y110.98
*COMMENTARY* Support found from Y109.91 on Tuesday, slightly below the lower 1%
volatility band at the time but so far keeping us from a test to what looks
stronger support from Y109.63 and the 4 month support line at Y109.43. The
subsequent rise having moved back above Y110.78 has seen resistance from the
23.6% Fibo retrace at Y110.98 frustrate gains. Will need to clear here before
thoughts can turn to Y111.29-Y111.72. Subsequent loss of Y110.15 is a concern.

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