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False Break of 111? USDJPY.........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: False Break of 111?
USDJPY touched highs of 111.24 yesterday, before the risk-off theme through Asia
pressed back under 111.00, suggesting a false break. Bears 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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