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Either side of 106: *RES 4:........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Either side of 106:
*RES 4: 107.57 High Aug 2
*RES 3: 106.98 High Aug 13 and key resistance
*RES 2: 106.74 Aug 23 high and recent congestion area
*RES 1: 106.41 High Aug 26
*PRICE: 105.83 @ 15:46 GMT Aug 27
*SUP 1: 104.46 Low Aug 26 and YTD low
*SUP 2: 104.00 Psychological round number
*SUP 3: 103.66 76.4% retracement of the Jun - Dec, 2016 rally
*SUP 4: 102.71 1.00 projection of Aug 1 - Aug 12 decline from Aug 13 high
Having touched a fresh YTD low of 104.46 Monday, USDJPY staged an impressive
bounce before being offered again for much of the Tuesday session. This recent
price action proves downside momentum may be erratic going forward. Bearish
trend conditions however remain in place and the recent failure ahead of the
107.00 level continues to weigh on the pair. Risk remains for a break of 104.46
that would open 104.00 and the 103.66 retracement.

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