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Increased Correction Risk *RES.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Increased Correction Risk
*RES 4: Y111.70 Hourly support July 26 now resistance 
*RES 3: Y111.56 55-DMA 
*RES 2: Y111.39 Hourly resistance July 27 
*RES 1: Y110.98 High Aug 2
*PRICE: Y110.72 @ 2030GMT
*SUP 1: Y110.28 Hourly support Aug 2 
*SUP 2: Y109.91 Low Aug 1 
*SUP 3: Y109.70 55-WMA 
*SUP 4: Y109.25 Low June 15
*COMMENTARY: Correction risk has increased when the lack of follow through on
Aug 1 is combined with daily studies looking to correct from O/S, daily momentum
divergence and support emerging on dips. Bears now need a close below Y109.91 to
reconfirm a bearish bias and focus on Y108.15-69. Layers of resistance remain
with bulls needing a close above the 55-DMA to hint at a shift higher in focus
with above Y112.87 needed to target Y114.50-115.50.

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