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Trendline Resistance Holding,......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Trendline Resistance Holding, For Now
Risk appetite improved at the NY crossover, underpinned by firmer global
equities/UST yields. USDJPY extended to 108.80, before trendline resistance off
the Jun 4 high capped topside gains. Consolidation above here brings the 109.00
level into view, ahead of a run at the 21-dma, 38.2% retracement & trendline off
Apr highs at 109.22/27/32. Bears need to clear the 100-hma at 108.39 to return
the focus to the downside.

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