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DOLLAR-YEN TECHS: Rally Falters
The uptrend held throughout European hours, but slipped ahead of the close to
keep prices below 113.00. However it remains too soon to call time on the
recovery off the 21-dma, which keeps the medium-term focus on 114 and the Oct
highs at 114.54. Bears need a close under the 21-dma at 112.72 to return the
outlook neutral, while a move below broken trendline resistance turned support
at 112.20 would allow them to regain control, targeting the 100-dma at 111.65.