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Encouraging for bulls: *RES 4:.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Encouraging for bulls:
*RES 4: 109.59/77 50.0% of the Apr 24-Jun 25 decline / 100-dma
*RES 3: 108.99/109.02 High Jul 10 / Low May 13
*RES 2: 108.93 38.2% of the Apr 24-Jun 25 decline
*RES 1: 108.79/80 Cloud base / High Jun 11
*PRICE: 108.59 @ 15:17 GMT July 25
*SUP 1: 107.97/70 200-hma/ Low Jul 22
*SUP 2: 107.21 Low Jul 18
*SUP 3: 107.10 Low Jun 26
*SUP 4: 106.78 Low Jun 25 and key support
USDJPY breached 108.38, the high of July 16. A positive close above would be an
encouraging sign for bulls and pave the way for an extension towards the key
108.99 resistance. Momentum studies are constructive, reinforcing the underlying
bullish theme. On the downside, losses below 107.21 would offset the bullish
outlook and instead expose support at 106.78.

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