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USDJPY: LT Fibo 50% Retracement....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: USDJPY: LT Fibo 50% Retracement Providing Attraction
The 50% retracement of 104.56-114.73 at 109.65 continues to attract the cross
with every close over the past six sessions being within 30 pips. To the
topside, the key 110 level is failing to budget despite a number of break
attempts, which now shifts the focus to the downside. Bears need a downside
break of the 21-dma & Jan 18 low at 109.01/06 to bring the 108.00 level back
into view and suggest a resumption of the broader bearish trend. On the upside a
clean break above 110 is needed to extend the recovery towards the 100-wma at
110.87, ahead of the 200-dma at 111.26.
Foreign Exchange Technical AnalysisMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisMarketsForeign Exchange Bullets

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