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Up Trendline Supporting USDJPY.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Up Trendline Supporting
USDJPY breached long-term up trendline support yesterday, but failed to close
below. The USD has since rallied but has so far failed to gain traction,
suggesting the recent downtrend remains intact. The up trendline comes in today
at 112.73, a break turns the outlook negative with bears targeting the Nov 20
low & 100-dma at 112.31/25. Bulls need a convincing break of the 50% retracement
level at 113.21 for the next leg higher and a run at 114.00.

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