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Risk Improved Traders faded the....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Risk Improved
Traders faded the risk-off theme ahead of the NY crossover, underpinned by
firmer global equities. USDJPY extended the recovery toward 109.60, with
near-term resistance at 109.70/75 from a series of previous highs. Above here
opens a run at the 110.00 level, ahead of the 21 & 100-dma's at 110.17/57. Bears
focus returns to the May 13 low at 109.02 & 109.00 level. Below here opens the
50% retracement of 99.02-118.66 at 108.84.

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