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Mar 5 High Remains the Upside......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Mar 5 High Remains the Upside Target
USDJPY continues to trade around the 112 level just below the March 5 high at
112.14. A break above here would open the 76.4% retracement of the Oct - Jan
fall at 112.25, above here opens the 50% retracement of 125.86-99.02 & Dec 20
high at 112.44/60. Bears need to break back below the 200-dma to suggest a false
bullish break. Below here would open the 100-dma & Apr 10 low at 110.85/84 to
re-ignite downside momentum, opening the 38.2% retracement level of
104.56-114.55 & Mar 29 low at 110.73/54.

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