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Risk-off Flows The risk averse.....>

DOLLAR-YEN TECHS: Risk-off Flows
The risk averse theme pressured USDJPY through 109.55 to fresh multi-month lows.
Recovery efforts have so for remained shallow and keeps the downtrend intact
with support at 109.52 from the 50% retracement level of 104.87-112.40. Below
here opens the psychological 109 level, ahead of the long-term 50% retracement
at 108.84. Bulls look to recover the 100-dma & cloud top at 110.56/79, before
challenging the 111 level.

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