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Still Consolidating *RES 4:........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Still Consolidating
*RES 4: 110.36 76.4% of the Mar 24 - May 6 decline
*RES 3: 109.85 High Jun 5 and key resistance
*RES 2: 108.54 High Jun 9
*RES 1: 107.87 High May 10
*PRICE: 107.27 @ 17:15 BST Jun 17
*SUP 1: 106.58 Low Jun 11 and intraday bear trigger
*SUP 2: 106.40 Low May 11
*SUP 3: 105.99 Low May 6/7 and key support
*SUP 4: 105.81 Low Mar 17
USDJPY continues to consolidate. Following last week's sell-off though, the pair
remains vulnerable. A bearish theme was confirmed on Jun 8. A bearish engulfing
candle on this day highlighted a shift in sentiment. Support at 107.09, May 29
low has been cleared reinforcing bearish conditions and this signals scope for a
move towards the key support at 105.99, May 6 and 7 low. Initial resistance is
at 107.87, the Jun 10 high.

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