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GBPUSD TECHS

Key Support Still Exposed

EURUSD TECHS

Topping 50-day EMA

EQUITIES

J&J Drags on Dow, DJIA Underperforms

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  • RES 4: 107.53 High Jul 20, 2020
  • RES 3: 107.15 50.0% retracement of the Mar 2020 - Jan downleg
  • RES 2: 107.05 High Aug 13, 2020
  • RES 1: 106.96 High Mar 2
  • PRICE: 106.72 @ 17:15 GMT Mar 2
  • SUP 1: 105.85 Low Feb 25/26
  • SUP 2: 105.48 20-day EMA
  • SUP 3: 105.21 Trendline support drawn off the Jan 6 low
  • SUP 4: 104.92 Low Feb 23 and a key support

The USDJPY outlook remains bullish. Last week's gains above 106.22, Feb 17 high, confirmed a resumption of the current uptrend and maintains the bullish price sequence of higher highs and higher lows. Moving average studies remain in a bull mode reinforcing current conditions and price remains above its trendline support drawn off the Jan 1 low. The focus is on 107.05, Aug 13, 2020 high. Support lies at 105.85, Feb 25/26 low.