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Trades through the 107.61..........>

DOLLAR-YEN TECHS: Trades through the 107.61 Fibonacci retracement:
*RES 4: 109.62 High May 31 and standard candle line high
*RES 3: 109.02 Low May 13 and key short-term resistance
*RES 2: 108.80 High Jun 11
*RES 1: 108.67/70 20-day EMA and trendline resistance drawn off the Apr 24 high
*PRICE: 107.78 @ 08:41 GMT June 20
*SUP 1: 107.47 Intraday/Jan 4 low
*SUP 2: 107.00 Round number support
*SUP 3: 106.61 Bear channel base drawn off the Apr 24 high
*SUP 4: 106.48 76.4% retracement of the Jan 3-Apr 24 rally
USDJPY has traded to a fresh trend low in Asia clearing former support at
107.88. This cements bearish conditions in USDJPY as the price sequence of lower
lows and lower highs extends. Momentum conditions are bearish too and the recent
inability to trade back above 109.00 is weighing on the pair. The 61.8%
retracement of the Jan 3-Apr 24 rally intersects at 107.61 and has been breached
today. Follow through would further strengthen the bearish outlook.

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