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

DOLLAR-YEN TECHS: Recovery Continues, Eyes A Y110.83-Y111.05 Challenge
*RES 4: Y111.62 50% Fibo of Y114.50-Y108.73
*RES 3: Y111.21/38 1% vol band, 76.4% Fibo of Y112.20-Y108.73
*RES 2: Y111.05 Aug 4 high
*RES 1: Y110.83/93 Aug 8 high, 38.2% of Y114.50-Y108.73
*PRICE: Y110.42 @1550GMT
*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: Y109.00 1% volatility band
*COMMENTARY* The move back through Y109.84 has instilled near term confidence
allowing a move through the congested Y110.45-50 today. As a result, resistance
next comes from between two of the month's previous Y110.83-Y111.05 highs. This
area also including the 38.2% Fibo retrace of the Y114.50-Y108.73 fall. Support
also on the rise, Y110.15-20 now the the immediate protection to Monday's
Y109.80 high. The Y109.41/42 region still of more consequence below. 

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