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Recovery Above 111.00..............>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Recovery Above 111.00 Short-lived
The rally from 110.11 to 111.43 this week has proved short-lived, with
profit-taking and risk aversion denting the bulls' argument somewhat.
Nonetheless, yesterday's close back above the 55-dma at 110.87 was a clear
bullish signal, with August highs of 112.15 now the target. Bears need to move
back under the 55-dma to keep the downside trend intact and target the 200-dma
at 109.93. Below here, the 100-dma kicks in at 109.85.
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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