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Early Risk-off Faded Early.........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Early Risk-off Faded
Early risk-off was quickly faded with a recovery to the 108.50 area. USDJPY
remains locked in a narrow 108-109 range with a break either side needed for
direction. Bears need to clear the 108.00/05 level which holds the 76.4% retrace
of the Jun6-11 recovery & Jun 6 low, before challenging the 2019 support line at
107.98. Below here exposes the Jun 7 & Jun 5 lows at 108.88/82. Bulls need to
recover trendline resistance & Jun 11 high at 108.76/80, before opening a run at
the 109.00 level. Consolidation above opens the 21-dma, trendline off Apr highs
& 38.2% retracement at 109.11/18/23.

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