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Sold on rallies: *RES 3:...........>

DOLLAR-YEN TECHS: Sold on rallies:
*RES 3: 108.41/57 20-day EMA and trendline resistance drawn off the Apr 24 high
*RES 2: 108.15 200-hma
*RES 1: 107.81 Low Jun 5 and recent bear trigger
*PRICE: 107.28 @ 15:38 GMT June 24
*SUP 1: 107.05 Jun 21 low
*SUP 2: 106.50/39 76.4% of the Jan 3-Apr 24 rally / bear channel base drawn off
Apr 24 high
*SUP 3: 106.00 Round number support
USDJPY squeezed off fresh cycle lows to 107.74 on Friday, before fading. Despite
this recovery efforts remain shallow and keeps the downtrend intact. A break of
the 61.8% retracement of the Jan 3-Apr 24 rally at 107.61 last week further
cemented bearish conditions and extends the price sequence of lower lows and
lower highs. A downside break of 107 would put the focus on the 76.4%
retracement at 106.50. Note that this is just above the bear channel base at
106.39 highlighting a potentially significant support handle at 106.50/30.

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