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Rangebound Medium-term bullish.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Rangebound
Medium-term bullish momentum remains in place, with the failure to convincingly
break below 111.00 confirming the upward trend. Nonetheless, Tuesday price
action did little to reinforce the bullish case, suggesting progress could be
slow. A convincing break above 111.50 will be required to change that and a
break 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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