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Gains Likely To Extend *RES 4:.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Gains Likely To Extend
*RES 4: 110.00 Round number resistance
*RES 3: 109.52 61.8% of the Mar 24 - May 6 decline
*RES 2: 109.38 High Apr 6
*RES 1: 109.24 3.0% Upper Bollinger Band
*PRICE: 108.93 @ 10:40 BST Jun 4
*SUP 1: 108.09 High May 19 and former breakout level
*SUP 2: 107.51 Low Jun 2
*SUP 3: 107.09 Low May 29 and key near-term support
*SUP 4: 106.74 Low May 13
USDJPY is bullish following Tuesday's break of key resistance at 108.08/09, May
16/17/19 highs that brought to an end the recent period of consolidation. The
pair has also cleared the 108.85 Fibonacci retracement to further cement a
bullish condition. Attention shifts to 109.52, 50.0% of the Mar 24 - May 5
sell-off. Initial support is at 108.09 ahead of Tuesday's 107.51 low. A break of
107.09, May 29 low is required to reverse the trend.

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