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Extending The Downtrend Failure....>

DOLLAR-YEN TECHS: Extending The Downtrend
Failure to reclaim 111.00 saw the retracement extend back through the 100-dma
with added weight from US equity futures. This keeps the bearish outlook intact,
opening cloud base support at 110.32, ahead of a run at the 110 level. Further
support is located at 109.71/56 from the Mar 25 low & 50% retracement level.
Bulls look to recover 111, while a break back above the 200-dma at 111.50 is
needed to reignite upside momentum and bring the 112 level back into view.

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