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Still Hovering Above Key Support...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Still Hovering Above Key Support
*RES 4: 109.38 High Apr 6 and near-term bull trigger
*RES 3: 109.06 High Apr 9
*RES 2: 108.59 High Apr 10
*RES 1: 108.08 High Apr 16 and 17
*PRICE: 107.21 @ 10:40 BST Apr 27
*SUP 1: 106.92/93 Low Apr 1 and bear trigger / Low Apr 15
*SUP 2: 106.76 Low Mar 18
*SUP 3: 106.45 50.0% retracement of the Mar 9 - 24 rally
*SUP 4: 105.81 Low Mar 17
USDJPY is unchanged and the outlook remains bearish. The pair continues to hover
above support 106.92, Apr 1 low. Attention remains on this support following the
failure at 109.38 on Apr 6. Losses through 106.92 would be bearish exposing
106.45, a Fibonacci retracement and potentially below. In order to reinstate a
bullish theme, clearance of 109.38 is required. Initial resistance has been
defined at 108.08, Apr 16/17 high.

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