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Risk-off Flow Ahead of NY USDJPY...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Risk-off Flow Ahead of NY
USDJPY cleared 109.50 with the downtrend extending to 109.27. This brings the
May 13 low & 109 level back into view, with a break here needed to open the 50%
retracement & Feb 1 low at 108.84/73. Further support is located at 108.50 from
the Jan 31 low, ahead of the 61.8% retracement & Jan 16 low at 108.38/37.
Near-term resistance remains at 110.00/05 which holds the 38.2% fibo of the May
range and previous hourly highs on May 10. Above here would suggest a potential
base is forming, opening a run at the May 29 high & cloud base at 110.29/32.

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