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Improving Appetite Improved risk...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Improving Appetite
Improved risk appetite amid the backdrop of firmer equities saw USDJPY take out
the 111.00 level & 100-dma to 111.18, before fading. Consolidation above here
brings the 200-dma & down trendline resistance into view at 111.47/71, with a
break needed to open a run at the key 112 level. Bears continue to look for a
downside break of 110 to return the focus to the Mar 25 low at 109.71. Below
here opens the Feb 7 low & 50% retracement level at 109.61/56.

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