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Y106.24-Y106.42 The Bar To Any.....>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Y106.24-Y106.42 The Bar To Any Near Term Recovery Potential
*RES 4: Y107.28/30 76.4% of Y107.91-Y105.25, Mar 13 high
*RES 3: Y106.97/05 Recovery high and Mar 9 high
*RES 2: Y106.42 Mar 15 high
*RES 1: Y106.24 Hourly recovery high Mar 16
*PRICE: Y105.94 @0911GMT
*SUP 1: Y105.60 Mar 16 low
*SUP 2: Y105.46 Mar 6 low
*SUP 3: Y105.16/25 1% volatility band, Mar 2 low
*SUP 4: Y103.90/09 15 month bear channel, swing target
*COMMENTARY* Paying the price for faltering at Y107.28-Y107.30 resistance last
week, an area which also included the upper 1% volatility band. The subsequent
fall has reached slightly below the key near term support from Y105.70. Really
needed to stay above here, if any recent upside momentum is to be retained and
avoid pressure returning on Y105.25-Y105.16. Resistance Y106.24-Y106.42, back
above the latter would help with near term recovery efforts.

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