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SOUTH KOREA

BoK Growth Forecast Could Be At Risk

JGB TECHS

(U1) Fades Off 2021 Highs

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  • RES 4: 132.70 High Jun 23
  • RES 3: 132.43 High Jul 1 and a key resistance
  • RES 2: 131.09/41 High Jul 13 / 50-day EMA
  • RES 1: 130.28/43 High Jul 16 / High Jul 14
  • PRICE: 129.43 @ 17:04 BST Jul 20
  • SUP 1: 128.60 Low Jul 20
  • SUP 2: 128.39 200-dma
  • SUP 3: 128.29 Low Mar 24 and key support
  • SUP 4: 127.77 Low Feb 24

EURJPY traded lower still Tuesday, making light work of the Monday low. This confirms a resumption of the downtrend and paves the way for weakness toward the key downside support at 128.39, the 200-dma. Momentum studies remain in a bearish cycle and this reinforces the current trend condition. Moving average studies are in bear mode too. On the upside, 130.28, Jul 16 high marks initial firm resistance.