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Recovery Continues, Eyes...........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Recovery Continues, Eyes Y1110.93-Y111.15 Next
*RES 4: Y111.62 50% Fibo of Y114.50-Y108.73
*RES 3: Y111.25/38 1% vol band, 76.4% Fibo of Y112.20-Y108.73
*RES 2: Y111.05/15 Aug 4 high, swing target Y110.85-Y110.38
*RES 1: Y110.93 38.2% Fibo of Y114.50-Y108.73
*PRICE: Y110.91 @0903GMT
*SUP 1: Y110.15/20 Hourly support
*SUP 2: Y109.80 Aug 14 high, now support
*SUP 3: Y109.41/42 Aug 11 high, Aug 14 low
*SUP 4: Y109.04 1% volatility band
*COMMENTARY* The move back through Y109.84 this week instilled near term
confidence allowing a rise through the congested Y110.45-50 area on Tuesday. As
a result, resistance next comes from the 38.2% Fibo retrace level at Y110.93 and
then the Aug 4 high and 1% volatility band between Y111.05-15. Support also on
the rise, Y110.15-20 now the the immediate protection to Monday's Y109.80 high.
Directly through Y111.15 and look to Y111.38-Y111.62 next.

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