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Risk Back on The Table Risk........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Risk Back on The Table
Risk appetite underpinned overnight with solid gains seen across G10. USDJPY
extended the recovery to 110.93, its highest levels of the week. Bulls need a
close above the 111 level & 100-dma (111.05) to suggest a resumption of the
broader rally, opening the 200-dma & Mar 20 high at 111.46/69. Bears continue to
look for a downside break of 110 to return the focus to the Mar 25 low at
109.71. Below here opens the Feb 7 low & 50% retracement level at 109.61/56.

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