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Searching For a Break USDJPY.......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Searching For a Break
USDJPY traded a narrow 50 pip range last week with a breakout needed for
direction. Bulls look to clear the 111.00 level which has proved hard to
overcome in recent sessions. This brings the Feb 14 high & 200-dma back into
view at 111.13/31, ahead of a run at the 111.35/45 area which registered a
series of previous highs through December. A downside break of the Feb 15 low &
50-dma at 110.26/109.86 would shift the outlook bearish and bring the 109.50/55
level back into view which holds the Feb 6 low & 61.8% fibo support.

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