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‘Bald-Monk’ Candle Signals Dollar-Yen Decline, Gaitame.com Says

The dollar may slide toward 106 yen, according to Tokyo-based Gaitame.com Research Institute Ltd., citing trading patterns.

The greenback touched 110.09 yen yesterday, the highest since August 2008, before closing at 108.89, below its opening level and near its intraday low in a bearish signal, said Takuya Kawabata, an analyst at Gaitame.com, a unit of Japan’s largest currency margin company.