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Watch 106.98: *RES 3: 107.57.......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Watch 106.98:
*RES 3: 107.57 High Aug 2
*RES 2: 107.18/21 50% retracement of the Aug fall / Low Jul 18
*RES 1: 106.98 High Aug 13 and key resistance
*PRICE: 106.35 @ 15:09 GMT Aug 16
*SUP 1: 105.66 Low Aug 14
*SUP 2: 105.05 Low Aug 12 and key support
*SUP 3: 105.00 Psychological support
The pair continues its pattern of higher lows, providing some reassurance to
bulls, but there's been little follow through to the topside. Resistance remains
at the Tuesday 106.98 high and represents an important S/T hurdle for bulls. The
overarching trend remains bearish and if bears claw back any momentum, this
would open support at 105.05 and 105.00. From a Japanese candle perspective
however, Monday's pattern is a bullish engulfing, signalling a potential base. A
break above 106.98 though is required to validate this pattern.

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