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False Break Above 111? USDJPY......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: False Break Above 111?
USDJPY touched highs of 111.24 in NY yesterday, before the risk-off theme
through Asia pressed back under 111.00, suggesting a false break. Bears now look
for a downside break of the Feb 15 low & 50-dma at 110.26/109.84 to shift the
outlook and bring the 109.50/55 level back into view which holds the Feb 6 low &
61.8% fibo support. To reignite upside momentum bulls need to clear the 200-dma
at 111.31, above here opens a run at the 111.35/45 area which registered a
series of previous highs through December.

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