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Market Roundup: Rates Reverse Early Bid

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Downside Risk *RES 4: 110.50.......>

*RES 4: 110.50 1.000 projection Aug 26 - Sep 18 rally from Oct 3 low
*RES 3: 109.93 High May 30
*RES 2: 109.73 High Dec 2 and key resistance
*RES 1: 109.21 High Dec 3
*PRICE: 108.66 @ 05:39 GMT Dec 6
*SUP 1: 108.50/43 50 dma / Intraday low
*SUP 2: 108.24 Low Nov 14 and key support
*SUP 3: 107.89 Low Nov 1
*SUP 4: 107.72 38.2% retracement of the Aug 26 - Dec 2 high
USDJPY remains vulnerable following the sharp rejection off Monday's 109.73
high. The pullback cleared 108.64 support, exposing the 50-dma at 108.52. Next
key support sits at the 108.24 mark, Nov 14 low. A break would threaten a deeper
sell-off towards 107.89, Nov 1 low. To resume the uptrend and a bullish focus,
the pair needs to retest Monday's 109.73 high where a break would open 109.93,
May 30 high and 110.50, a Fibonacci projection.

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