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Recovery Efforts Fall Flat Late....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Recovery Efforts Fall Flat
Late day weakness in US stocks has pressured USDJPY with recovery efforts
falling flat to shift the focus back to the downside. Bears look for a break
below the May 13 low at 109.02 & 109.00 level to open the 50% retracement of
99.02-118.66 at 108.84. Bulls need to recover yesterday's high at 109.63 to
build hoped of a broader recovery to the 109.70/75 area from a series of
previous highs. Above here opens a run at the 110.00 level, ahead of the 21 &
100-dma's at 110.06/58. 

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