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Risk-on Move Faded Traders faded...>

DOLLAR-YEN TECHS: Risk-on Move Faded
Traders faded the early risk-on move to settle either side of the 109.50 level.
Bears need a break and close below 109 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 is seen 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 cloud base & 200-hma at 110.32/33.

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