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Testing Down Trendline Although....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Testing Down Trendline
Although USDJPY extended the pullback to test and slightly breach the 110.00
level, the structure of the decline has remained corrective. The subsequent
rebound is now testing the near-term down trendline resistance at 111.30. A
break above here improves the outlook, suggesting that a corrective bottom is
being traded. But, bulls would still need to regain 111.87 to target 112.15 and
confirm outlook as bullish.

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