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Stuck in The Range USDJPY..........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Stuck in The Range
USDJPY touched pullback lows of 109.15 amid the backdrop of weaker global
equities, before staging a modest recovery. Narrow range trade continues with
bulls looking to recover yesterday's high at 109.63, before challenging the
109.70/75 area. Above here opens a run at the 110.00 level, ahead of the May 23
high & 100-dma at 110.36/58. Bears need a close below 109.15 to bring the May 13
low at 109.02 & 109.00 level back into view. Below here opens a run at the 50%
retracement of 99.02-118.66 at 108.84.

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