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Y106.89 Break Needed To............>

DOLLAR-YEN TECHS: Y106.89 Break Needed To Instigate Further Recovery
*RES 4: Y107.65/70 Congestion area Feb 13-14
*RES 3: Y107.17 Hourly highs Feb 14
*RES 2: Y106.89 Feb 15 high
*RES 1: Y106.66 Intraday high
*PRICE: Y106.59 @1018GMT
*SUP 1: Y105.90/00 Hourly support
*SUP 2: Y105.66 2% volatility band
*SUP 3: Y105.44/55 Jan 2014, Oct 3 2016 highs, Feb 16 low
*SUP 4: Y104.86 1.618 swing of Y105.55-Y106.66
*COMMENTARY* The recovery stalled at Y106.89 last Thursday, a fresh fall then
through Y106.18 which again straddled the lower 2% volatility band, testing into
the top of the next band of support from between Y105.55-Y105.44. Always
concerned when we trade below the 2% band as this is never a long lasting
situation. Meanwhile, Y106.55-Y106.66  now provides initial resistance but back
above Y106.89 needed for anything meaningful.

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