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Risk-off Flows Pressure Soft.......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Risk-off Flows Pressure
Soft global equities knocked sentiment which has seen e-mini S&P futures breach
the 2800 level to rest on support from the 200-dma. Risk-off flows dominated
with USDJPY touching pullback lows of 109.15, this brings the May 13 low at
109.02 & 109.00 level back into view. Below here opens a run at the 50%
retracement of 99.02-118.66 at 108.84. Bulls need to recover yesterday's high at
109.63, before challenging the 109.70/75 area which has registered a series of
previous highs. Above here opens a run at the 110.00 level, ahead of the May 23
high & 100-dma at 110.36/58.

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