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False Break USDJPY broke to the...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: False Break 
USDJPY broke to the upside out of its short term range yesterday, touching highs
of 112.40 before settling back around the 112 level. Japanese exporter supply
around the handle has given bears the opportunity to target up trendline support
from the March 25 low at 111.74 and Tuesday's low at 111.65. Below here would
suggest a potential downside reversal, with a break below the 200-dma at 111.51
needed for confirmation. To reignite upside momentum bulls need to recover 112
and take out yesterday's high. Above here opens a run at the Dec 20 high &
50-mma at 112.60/70.
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