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Stuck in The Range USDJPY failed...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Stuck in The Range
USDJPY failed to build on the break of 112 with the subsequent retracement
extending back through 111.80. Despite this, USDJPY remains locked in a 43 pip
weekly range with topside focus on a break of yesterday's high at 112.17. The
76.4% retracement of the Oct - Jan fall provides the next layer of resistance at
112.25, ahead of the Dec 20 high at 112.60. Bears look for a close back under
112 to suggest a potential downside reversal, with a break below the 200-dma at
111.52 needed for confirmation.

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