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Support Above Y109.63 Holds And....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Support Above Y109.63 Holds And Spawns Decent Recovery
*RES 4: Y111.94 1% volatility band
*RES 3: Y111.64/72 76.4% of Y112.20-Y109.84, Jul 28 high
*RES 2: Y111.29/30 Jul 28 high, 61.8% of Y112.20-Y109.84
*RES 1: Y111.02/05 50% of Y112.20-Y109.84, intraday high
*PRICE: Y110.80 @1520GMT
*SUP 1: Y110.45/55 Hourly support
*SUP 2: Y110.15 Intraday hourly congestion area
*SUP 3: Y109.84 Aug 3 low
*SUP 4: Y109.63 76.4% Y108.13-Y114.50, swing Y110.62-Y112.20
*COMMENTARY* Support found from Y109.84 on Thursday, slightly above the lower 1%
volatility band at the time but so far keeping us from a test to what looks
stronger support from Y109.63 and the 4 month support line at Y109.43. The
subsequent rise has now found the impetus for a move back above Y110.70 and the
weeks previous Y110.98 high. This sees Y111.02-Y111.72 as a next potential
target zone as we correct losses from Y112.20. Support Y110.55-Y110.15.

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