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Focus is now on 106.50: *RES 4:....>

DOLLAR-YEN TECHS: Focus is now on 106.50:
*RES 4: 109.02 Low May 13
*RES 3: 108.80 High Jun 11 and key short-term resistance
*RES 2: 108.63/69 20-day EMA and trendline resistance drawn off the Apr 24 high
*RES 1: 107.81 Low Jun 5 and recent bear trigger
*PRICE: 107.54 @ 16:06 GMT June 21
*SUP 1: 107.00 Round number support
*SUP 2: 106.50 Bear channel base/ 6.4% Jan 3-Apr 24 rally
*SUP 3: 106.00 Round number support
*SUP 4: 104.67 Jan 3 low
USDJPY hit fresh cycle lows Friday morning but recovered somewhat in European
and US hours. A break of the 61.8% retracement of the Jan 3-Apr 24 rally at
107.61 was also confirmed yesterday further cementing bearish conditions and
extending the price sequence of lower lows and lower highs. Attention is now on
the 76.4% retracement at 106.50. Note that this level also represents the bear
channel base highlighting a potentially significant support handle at 106.50.

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