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Soft ADP Knocks Sentiment..........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Soft ADP Knocks Sentiment
Risk-on flows were countered after the release of soft US ADP data. USDJPY
briefly dipped back under 108.00 on react, before recovering to settle
mid-range. Bulls near-term focus remains on a break of Monday's high & the
100-hma at 108.45/53. Consolidation above would cement the uptrend, opening the
psychological 109 level & 38.2% retracement at 109.27. Bears need a move back
under 108.00, before challenging the Jun 4 & Jan 10 lows at 107.85/77.

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