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DOLLAR-YEN TECHS: Momentum Building
USDJPY closed on key 200-dma & trendline resistance yesterday, but has so far
struggled to build. Despite this, pullbacks remain shallow and keeps focus on
the topside. Bulls target a break of the Mar 15 high & 112.00 level, above here
opens previous broken channel base support-turned-resistance at 112.12, ahead of
the 76.4% retracement of the Oct - Jan fall at 112.27. Bears need a downside
break of 110 to return the focus to the Mar 25 low at 109.71.