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Extends The Current Downleg *RES...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Extends The Current Downleg
*RES 4: 108.53 1.0% 10-dma envelope
*RES 3: 108.16 High Jul 1 and the bull trigger
*RES 2: 107.79 High Jul 7
*RES 1: 107.40 High Jul 9
*PRICE: 106.80 @ 10:43 BST Jul 10
*SUP 1: 106.71 Intraday low
*SUP 2: 106.07 Low Jun 23
*SUP 3: 105.99 Low May 6 and 7 and key support
*SUP 4: 105.21 61.8% retracement of the Mar 9 - 24 rally
USDJPY maintains this week's downleg and is currently extending the move lower.
Note that support at 106.80, Jun 26 low has also been breached reinforcing the
developing bearish tone. The break has also exposed the key support zone at
106.07/105.99. Clearance of this area would represent an important bearish
development. On the upside, firm resistance has been defined at 107.79, Jul 7
high. Initial resistance though is at 107.40, Jul 9 high.

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