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Holding onto gains: *RES 4:........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Holding onto gains:
*RES 4: 107.57 High Aug 2
*RES 3: 107.49 38.2% retracement 112.40-104.46
*RES 2: 107.23/39 High Sep 5 / 1.0% 10-dma envelope
*RES 1: 107.18 50-dma
*PRICE: 106.88 @ 04:13 BST Sep 9
*SUP 1: 106.33 Low Sep 5
*SUP 2: 105.59 Low Aug 27
*SUP 3: 104.46 Low Aug 26 and YTD low
*SUP 4: 104.00 Psychological round number
USDJPY is holding onto last weeks gains trading just below 107.00. The move
above the former resistance at 106.98, Aug 13 high last week, is significant in
that it confirms bullish divergence between price and momentum and highlights a
likely reversal. Attention is on resistance highlighted by a Fibonacci
retracement, the 50-DMA and the Sep 5 high between 107.18-49. A break would
cement the upward momentum and open 108.00 plus levels. Support is at 106.33.

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