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Testing Support

DOLLAR-YEN TECHS

USDJPY edges lower and maintains a weaker tone.

  • A bearish theme still dominates following a sharp reversal on Aug 28.
  • The pair is testing support at 105.20/10, Aug 28 and 19 low respectively and the near-term bear trigger.
  • A beak would strengthen a bearish case and reinforce recent bearish price patterns.
  • This would open 104.19, Jul 31 low. On the upside, initial firm resistance is at 106.02, the 20-day EMA.

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