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Erring bullishly: *RES 4: 107.57...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Erring bullishly:
*RES 4: 107.57 High Aug 2
*RES 3: 107.49 38.2% retracement 112.40-104.46
*RES 2: 107.23 High Sep 5/1.0% 10-dma envelope
*RES 1: 107.20 50-dma
*PRICE: 107.01 @ 04:32 GMT Sep 6
*SUP 1: 106.33 Low Sep 5
*SUP 2: 105.59 Low Aug 27
*SUP 3: 104.46 Low Aug 26 and YTD low
*SUP 4: 104.00 Psychological round number
USDJPY finally broke higher Thursday, edging north of 107.00. The move above the
former resistance at 106.98, Aug 13 high is significant in that it confirms
bullish divergence between price and momentum and highlights a likely reversal.
Attention turns to resistance highlighted by a Fibonacci retracement and the
50-DMA between 107.20-49 as the key targets. A break of this zone would cement
the upward momentum and open 108.00. Key support remains 105.59.

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