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Off cycle lows: *RES 4:............>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Off cycle lows:
*RES 4: 107.82/87 50-dma / cloud base
*RES 3: 107.37/53 21-dma / Upper 1.0% 10-dma envelope
*RES 2: 107.18/21 50% retracement of the Aug fall / Low Jul 18
*RES 1: 107.09 High Aug 6
*PRICE: 106.55 @ 14:57 GMT Aug 13
*SUP 1: 105.71/69 100-hma / High Aug 12
*SUP 2: 105.05 Low Aug 12
*SUP 3: 105.00 Psychological support
*SUP 4: 104.87 YTD low
USDJPY based at 105.05 yesterday, with the recovery extending through 106.50 on
positive trade headlines. Despite this, technical indicators remain bearish with
near-term focus on the 100-hma at 105.71, ahead of the Aug 12 low &
psychological 105.00 level. The latter represents a major support. Bulls need to
clear last Tuesday's high at 107.09 to signal scope for a corrective recovery.

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