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DOLLAR-YEN TECHS: Prematurely Ending the Uptrend?
After touching 111.13, USDJPY fell back below the 61.8% retracement of
104.56-114.73 which comes in at 110.85. A close below here would threaten to
prematurely end the uptrend. The 200-dma at 111.30 is the next upside target
ahead of a run at last year's highs. On the downside, bears need to reclaim 110
to shift the outlook neutral, targeting a break of the 21-dma & 61.8%
retracement level at 109.77/18.