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Risk Takes a Hit JPY...............>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Risk Takes a Hit
JPY outperformed through Europe, buoyed by weak European equity markets & soft
EZ PMI data. USDJPY trades back below post-FOMC levels and puts downside focus
on the Mar 21 low & 55-dma at 110.30/24. A break opens the 110.00/10 area which
has registered a series of previous highs through Jan/Feb. USDJPY Bulls need to
recover 111.00 & the 100-dma at 111.22 to stabilise the outlook, above here
brings the 200-dma & broken channel base support-turned-resistance into view at
111.46/60.

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