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Y106.57-Y106.35 To Hold To Renew...>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Y106.57-Y106.35 To Hold To Renew Further Upside Potential
*RES 4: Y108.04/11 Equality rise from Y105.66, 38.2% Fibo
*RES 3: Y107.84/91 1.618 swing Y107.01-Y105.66, Feb 21 high
*RES 2: Y107.50/77 Apr 5 high, 1% volatility band
*RES 1: Y107.20/29 Hourly resistance
*PRICE: Y106.89 @0840GMT
*SUP 1: Y106.57/62 Hourly support, Apr 9 low
*SUP 2: Y106.35 Hourly high/low Apr 3-4
*SUP 3: Y105.99 Apr 4 low
*SUP 4: Y105.63/66 1% volatility band, Apr 2 low
*COMMENTARY* After faltering at Y107.50 last week, the recovery has paused for
breath, the subsequent pullback currently finding support from above
Y106.62-Y106.57. This and the slightly lower Y106.35 level offer protection
against a deeper pullback of gains, initially from Y105.66 and potentially from
the year's Y104.63 low. Will need to see a move back above Y107.20-Y107.29 to
renew upward enthusiasm, Y107.50_Y107.77 then the bar to fresh highs.

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