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Risk-averse theme: *RES 4:.........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Risk-averse theme:
*RES 4: 107.79/87 50-dma / cloud base
*RES 3: 107.32/35 21-dma / Upper 1.0% 10-dma envelope
*RES 2: 107.18/21 50% retracement of the Aug fall / Low Jul 18
*RES 1: 106.77/98 Intraday high / High Aug 13
*PRICE: 105.75 @ 15:10 GMT Aug 14
*SUP 1: 105.66 Intraday Low
*SUP 2: 105.05 Low Aug 12 and key support
*SUP 3: 105.00 Psychological support
*SUP 4: 104.87 YTD low
Risk took a hit with a sharp retracement back through the 106.00 level. The
bearish trend continues to dominate, opening the potential of a return to
support at 105.05 and the psychological 105.00 level. From a Japanese candle
perspective, yesterday's pattern is a bullish engulfing reversal, signalling a
potential base. However additional bullish confirmation is required for now,
before challenging yesterday's high at 106.98 and the Aug 6 high at 107.09.

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