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Failed Ahead of 114 Bulls failed...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Failed Ahead of 114
Bulls failed to challenge the 114 level with the subsequent retracement settling
around the 113.40/60 area. The short-term outlook remains neutral with bulls
needing a close above 114 to regain control. A shift in momentum would open the
October/November highs of 114.21/54 and extend the broader bullish trend. A
triangle pattern is beginning to emerge from the up trendline from the March
lows and down trendline resistance from the Oct highs. On the downside, bears
need to close below the Nov 20 low/100-dma at 112.31/25 to shift the outlook
negative. This would open the Oct 26 low at 111.38.

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