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Rate continues to improve despite no.....>

DOLLAR-YEN
DOLLAR-YEN: Rate continues to improve despite no real recovery in US equity
markets (e-mini S&P still in minor negative territory, but off the lows). Next
target for USD/JPY comes in at the Mar21 high of Y106.64, which coincides with
the 76.4% retracement level for the Y107.29-104.56 move. Beyond there, the 50DMA
lies at Y107.51, a level not looking unrealistic given the break above the
downward trendline seen in place since mid-January.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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