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Increasingly Weak Tech Outlook.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Increasingly Weak Tech Outlook
The technical picture for USDJPY is looking increasingly weak. The cross has
struggled ahead of the key 114 level through the week, and at the time of
writing looked at risk of closing back below the broken trendline
resistance-turned-support at 112.87 and the 200-wma at 112.84. A downside break
would open the 100-dma at 112.04. Bulls need to recover 114, targeting a move
toward the ytd high at 114.55. Above here confirms the bigger picture bullish
trend, opening option-related resistance at 115.

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