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Multi-month Lows USDJPY breached...>

DOLLAR-YEN TECHS: Multi-month Lows
USDJPY breached trendline support & the 109.00 level with ease as risk-off flow
dominated through Asia/Europe. The downtrend extended through 108.80 with next
support seen on approach to 108.50. Below here opens the 3% lower Bollinger band
& 61.8% retracement of 104.56-114.55 at 108.41/38. Bulls need to recover
109.15/20 (hourly lows May 29) to stabilise the outlook. Above here opens the
21-dma & May 30 high at 109.87/93, ahead of a run at the 110 level.

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