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USDJPY: Up Trendline Support.......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: USDJPY: Up Trendline Support Broken Again
USDJPY traded below the broken up trendline on Friday but closed above but has
fallen back below this morning. After failing to break above the 114 level
downside momentum has picked up and the 100-dma at 112.05 is the next level of
support for the pair. Below here would shift the outlook bearish, opening the
Oct 26 low at 111.38. The up trendline is providing resistance at 112.87 ahead
of the 21-dma at 113.08. Above here, bulls need to recover 114, targeting a move
toward the ytd high at 114.55 which would confirm the resumption of the bigger
picture bullish trend, opening option-related resistance at 115.

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