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Still On The Back Foot *RES 4:.....>

DOLLAR-YEN TECHS: Still On The Back Foot
*RES 4: 108.08 High Apr 16 and 17 and key resistance
*RES 3: 107.79 20-day EMA
*RES 2: 107.34 High Apr 28
*RES 1: 106.92 Low Apr 1 and recent breakout level
*PRICE: 106.48 @ 10:16 BST Apr 29
*SUP 1: 106.36 Intraday low
*SUP 2: 105.81 Low Mar 17
*SUP 3: 105.21 61.8% retracement of the Mar 9 - 24 rally
*SUP 4: 104.51 Low Mar 13
USDJPY USDJPY continues to edge lower. The pair has achieved the near-term
objective of 106.45, 50.0% retracement of the Mar 9 - 24 rally. Yesterday's
break of the former key support at 106.92, Apr 1 low continues to weigh. The
focus turns to 105.81, Mar 17 low and 105.21, the 61.8% retracement as the next
price objective. Initial resistance is today's high of 106.92. Key resistance is
at 108.08, Apr 16/17 high.

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