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Uptrend remains intact: *RES 4:....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Uptrend remains intact:
*RES 4: 109.59/62 50.0% retracement of Apr 24-Jun 25 decline / High May 31
*RES 3: 109.02 Low May 13
*RES 2: 108.93/99 38.2% retracement of Apr 24-Jun 25 decline / High Jul 10
*RES 1: 108.39/61 100-hma / High Jul 12
*PRICE: 107.88 @ 08.35 GMT July 15
*SUP 1: 107.80 Intraday low
*SUP 2: 107.53 Low Jul 3
*SUP 3: 107.27 Former channel resistance drawn off the Jul 3 low
*SUP 4: 107.10 Low Jun 26
USDJPY briefly traded above 108.00, but with lack of follow through was quick to
pare gains. The bear channel breakout on Jul 1 highlighted a bullish price
sequence in the pair that for now remains in place. Today the former channel top
now support, intersects at 107.27 and represents a key level. The ability to
hold above this level would maintain the uptrend that has been established off
the 106.78 low of Jun 25. The focus is on 108.99.

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