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DOLLAR-YEN TECHS: Trades Through A Key Support
*RES 4: 109.38 High Apr 6
*RES 3: 108.59 High Apr 10
*RES 2: 108.08 High Apr 16 and 17 and key resistance
*RES 1: 107.30/50 20-day EMA / Apr 30 Recovery High
*PRICE: 106.32 @ 10:28 BST May 6
*SUP 1: 106.21 Intraday low
*SUP 2: 105.81 Low Mar 17
*SUP 3: 105.21 61.8% retracement of the Mar 9 - 24 rally
*SUP 4: 104.51 Low Mar 13
USDJPY remains bearish. The pair stalled at 107.50 on Apr 30 and has since
pulled back, resulting in a breach today of 106.36, Apr 30 low. The break
reinforces bearish conditions supported too by MA studies that continue to point
south. Attention is on the next objectives at 105.81, Mar 17 low and 105.21, the
61.8% retracement of the Mar 9 - 24 rally. Key short-term resistance is seen at
107.50, Apr 30 high.

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