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Range in play Soft US equity.......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Range in play
Soft US equity futures triggered fresh risk-off flows back under 109.20 early
Wednesday. The move was then countered following reports that President Trump
plans to delay imposing Auto import tariffs. Near-term resistance is seen at
110.00/05 which holds the 38.2% fibo of the May range and May 10 hourly highs,
above here opens a run at the 100-dma at 110.50. Downside support remains from
the May 13 low & 109 level, with a break here needed to challenge the 50%
retracement & Feb 1 low at 108.84/73. Further support is located at 108.50 from
the Jan 31 low, ahead of the 61.8% retracement & Jan 16 low at 108.38/37.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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