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Still Sideways *RES 4: 110.50......>

DOLLAR-YEN TECHS: Still Sideways
*RES 4: 110.50 1.000 projection Aug 26 - Sep 18 rally from Oct 3 low
*RES 3: 109.93 High May 30
*RES 2: 109.73 High Dec 2 and key resistance
*RES 1: 109.00 High Dec 5
*PRICE: 108.60 @ 05:55 GMT Dec 12
*SUP 1: 108.43 Low Dec 4 and Low Dec 9
*SUP 2: 108.24 Low Nov 14 and key support
*SUP 3: 107.89 Low Nov 1
*SUP 4: 107.72 38.2% retracement of the Aug 26 - Dec 2 high
USDJPY is consolidating. The pair remains vulnerable though following the sharp
rejection off the Dec 2 high of 109.73 high. The pullback cleared 108.64 and
price continues to pressure the 50-dma. The next key support is 108.24, Nov 14
low. A break would threaten a deeper sell-off towards 107.89, Nov 1 low. To
resume the uptrend and a bullish focus, price needs to retest and clear 109.73.
This would open 109.93, May 30 high and 110.50, a Fibonacci projection.

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