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Holds below 106.00: *RES 4:........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Holds below 106.00:
*RES 4: 107.57 High Aug 2
*RES 3: 106.98 High Aug 13 and key resistance
*RES 2: 106.74 Aug 23 high and recent congestion area
*RES 1: 106.41 High Aug 26
*PRICE: 105.87 @ 15:38 GMT Aug 28
*SUP 1: 104.46 Low Aug 26 and YTD low
*SUP 2: 104.00 Psychological round number
*SUP 3: 103.66 76.4% retracement of the Jun - Dec, 2016 rally
*SUP 4: 102.71 1.00 projection of Aug 1 - Aug 12 decline from Aug 13 high
USDJPY staged an impressive bounce Monday off the YTD 104.46 low, but was
offered for much of the Tuesday session. This recent price action proves
downside momentum may be erratic going forward. Bearish conditions remain in
place and the recent failure ahead of 107.00 continues to weigh on the pair.
Risk remains for a break of 104.46 that would open 104.00 and the 103.66
retracement. On the upside, clearance of 106.98 would be viewed as a reversal.

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