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Struggling Above 109 USDJPY........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Struggling Above 109
USDJPY failed to build above 109.00 with the subsequent retracement extending to
108.69. Bulls look for a break of the 21-dma at 109.42, with the next upside
target at 110.00 from the Dec 25 low. A break above here would suggest further
gains towards the 200-dma at 111.19. Bears focus returns to the 108.00 level, a
break opens the 50% retracement & Jan 3 hourly support at 106.83/75.

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