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USD Underperformance Continues.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: USD Underperformance Continues
USD underperformance continued ahead of tonight's key FOMC meeting. USDJPY took
out double-bottom support through 112.20 to keep the recent downtrend intact.
The 100-dma at 112.40 remains key with bears needing a close below to challenge
option-related support at 112.00, ahead of the Oct 29 low at 111.78. Bulls look
to clear 113.00 to build on recent momentum, targeting a move back to the Dec 3
high & down trendline resistance at 113.85/87. Above here opens a run at the 114
level.

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