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Trading Either Side of 109.50......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Trading Either Side of 109.50
USDJPY largely consolidates either side of 109.50, looking for direction.
Near-term resistance is seen at 109.70/75, stronger placed behind at 110.00/05
which holds the 38.2% fibo of the May range and May 10 hourly highs. Above here
opens a run at the 100-dma at 110.50. Bears need to clear the May 13 low & 109
level to return the focus to the downside. This brings the 50% retracement & Feb
1 low into view at 108.84/73, ahead of the 61.8% retracement & Jan 16 low at
108.38/37.

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