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Topside hesitation is a concern....>

MNI (London)
DOLLAR-YEN TECHS: Topside hesitation is a concern with Y111.39-112.04 where May
highs are noted remaining key. Bulls look for a close above Y112.04 to end
bearish hopes, shifting immediate focus to Y113.22-44 where the 200-WMA
(Y113.22) is noted and overall focus to Y114.72 Nov highs. Bears now need a
close below the 200-DMA to gain breathing room and below the 55-DMA to return
pressure to Y109.01. A close below Y109.01 initially targets Y107.85-108.24.
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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