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Selling Pressure Exposes 105.99....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Selling Pressure Exposes 105.99
*RES 4: 109.85 High Jun 5 and key resistance
*RES 3: 108.54 High Jun 9
*RES 2: 107.64 High May 16 and key intraday resistance
*RES 1: 107.22 High Jun 23
*PRICE: 106.54 @ 06:12 BST Jun 24
*SUP 1: 106.07 Low Jun 23
*SUP 2: 105.99 Low May 6/7 and key support
*SUP 3: 105.81 Low Mar 17
*SUP 4: 105.21 61.8% Fibonacci retracement of the March Recovery Rally
USDJPY maintains a weaker tone following yesterday's selling pressure. The pair
cleared support at 106.58, Jun 11 low confirming a resumption of the sell-off
since Jun 5, which is bound to keep bulls very wary. Attention shifts to key
support at 105.99, May 6 and 7 low. This is a key bear trigger where a break
would pave the way for a deeper retracement of the strong rally between Mar 9 -
24. Initial resistance is 107.22.

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