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False Break of 112 USDJPY..........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: False Break of 112
USDJPY breached 112 yesterday, touched highs of 112.14 but was quick to pare
gains, suggesting a false break. Bears downside focus remains on the Mar 4 low
at 111.66, below here opens the 100 & 200-dma's at 111.38. To reignite upside
momentum bulls need to consolidate above 112 to bring channel top resistance at
112.29 back into view. Above here opens the 50% retracement level & Dec 20 high
at 112.44/60.

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