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Topped Out Ahead of 111.00.........>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Topped Out Ahead of 111.00
Broad-based JPY weakness touched highs of 110.95 on the back of poor domestic
trade balance data & firmer equities. USDJPY rejected a break of 111.00, meeting
renewed selling pressure off the high before settling around 110.80. A topside
break brings the Feb 14 high & 200-dma into view at 111.13/31, ahead of the
111.35/45 area which registered a series of previous highs through December. A
downside break of the Feb 15 low & 50-dma at 110.26/02 would shift the outlook
bearish and bring the 109.50/55 level back into view which holds the Feb 6 low &
61.8% fibo support.

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