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DOLLAR-YEN TECHS: Shallow Recovery
Recovery efforts have so far remained shallow which keeps the recent downtrend
intact. This brings the 61.8% retracement level & Jan 16 low at 108.38/37 into
view, ahead of a run at the 108 area. Bulls need to clear the 110 level which
has proved hard to overcome this year. An upside break would extend the recovery
towards the 100-wma at 110.87, ahead of the 200-dma at 111.26.