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In the 109.15-110 Range USDJPY.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: In the 109.15-110 Range
USDJPY remains in its 109.15-110 range. The failure to overcome the 110 level
last week has shifted the near term outlook bearish and the 109.15 level has
been challenged again on Tuesday. Just below here, the 21-dma & Jan 18 low at
108.99 come back into focus. A break below here would bring open a run at the
108.00 level, below which would suggest a resumption of the broader bearish
trend. On the upside a clean break above 110 is needed to extend the recovery
towards the 100-wma at 110.87, ahead of the 200-dma at 111.27.

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