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Range Trading USDJPY appears to....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Range Trading
USDJPY appears to be holding in a narrow range trading pattern with the 21 and
55-dmas acting as support. Failure to convincingly break the 111.00 level this
week keeps the bullish trend intact for the medium-term. A clear break above
111.50 will be required to trigger the next rally, and a move above would target
the Aug 1 peak at 112.15. Bears will need a close below 111.00 to shift the
outlook back to neutral and below the 200-dma at 109.83 to return the focus
toward the May 29 low at 108.11.

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