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Still consolidating: *RES 4:.......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Still consolidating:
*RES 4: 107.69 61.8% retracement of Aug 1 - Aug 12 fall
*RES 3: 107.57 High Aug 2
*RES 2: 107.18/21 50% retracement of Aug 1 - Aug 12 fall / Low Jul 18
*RES 1: 106.98 High Aug 13 and key resistance
*PRICE: 106.58 @ 04:34 GMT Aug 23
*SUP 1: 105.66 Low Aug 14
*SUP 2: 105.05 Low Aug 12 and key support
*SUP 3: 105.00 Psychological support
*SUP 4: 104.87 YTD low
No change in USDJPY as it continues to trade below key resistance at 106.98, the
low of Aug 13. The underlying bearish trend remains intact though and the focus
is on initial support at 105.66, the Aug 14 low ahead of the key 105.05/00
level. From a Japanese candle perspective, the bullish engulfing pattern on Aug
8 is still important signalling a potential base. A break above 106.98 however
is required to validate this pattern and would confirm a reversal.

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