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False Break? USDJPY spikes as......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: False Break?
USDJPY spikes as high as 111.24 in NY trading but the 111.00 level has given way
in Asian trading suggesting a potential false break. Bears now look for a
downside break of the Feb 15 low & 50-dma at 110.26/109.82 which would shift the
outlook bearish 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 look to take out
the 200-dma at 111.31, ahead of a run at the 111.35/45 area which registered a
series of previous highs through December.
Foreign Exchange Technical AnalysisMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisMarketsForeign Exchange Bullets

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