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(U2) Off Lows, But Still Fragile


Another Round Of Richening


(U2) More Stable But Still Fragile

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Sharp Sell-Off Likely To Extend....>

DOLLAR-YEN TECHS: Sharp Sell-Off Likely To Extend
*RES 4: 111.68 High Feb 24
*RES 3: 111.04 High Feb 25
*RES 2: 110.46 High Feb 27
*RES 1: 109.68 Intraday high
*PRICE: 108.13 @ 17:03 GMT Feb 28
*SUP 1: 107.76 Intraday low
*SUP 2: 108.34 1.0% 10-dma envelope
*SUP 3: 108.31 Low Jan 31
*SUP 4: 107.65 Low Jan 8 and key support
USDJPY remains very heavy and has again traded to a fresh low. The move down
this week follows the rejection off last week's high of 112.23 on Feb 20.
Momentum studies are pointing south having recently pulled away from overbought
territory and this reinforces the current bearish condition. Friday saw prices
sink below 108.35 support,opening 107.65, the Jan 8 low. Initial resistance is
at 109.68, Feb 28 high.

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