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EUROZONE ISSUANCE

EGB Supply for W/C Jul 26

USDCAD TECHS

Pullback Considered Corrective

US TSYS SUMMARY

What a Short, Strange Trip It's Been

GLOBAL POLITICAL RISK

Pfizer, Moderna Jabs Retain High Trust; AZ, Sputnik Lower

AUDUSD TECHS

Trend Indicators Remain Bearish

DOLLAR-YEN TECHS
  • RES 4: 107.67 Trendline resistance drawn off the Mar 24 high
  • RES 3: 107.53 High Jul 20
  • RES 2: 107.05 High Aug 13 and the bull trigger
  • RES 1: 106.95 High Aug 28
  • PRICE: 105.77 @ 06:07 BST Sep 1
  • SUP 1: 105.20 Low Aug 28
  • SUP 2: 105.10 Low Aug 19 and the intraday bear trigger
  • SUP 3: 104.86 76.4% retracement of the Jul 31 - Aug 13 rally
  • SUP 4: 104.19 Low Jul 31 and a major support

USDJPY remains vulnerable following Friday's sharp sell-off. In pattern terms, Friday is a bearish engulfing candle and highlights a potential bearish threat. The pullback exposes key near-term support at 105.10, Aug 19 low. A break of this level would add to the current bearish weight and set the scene for a move towards 104.19, Jul 31 low. On the upside, a break of 106.95/107.05 is required to reinstate a bullish theme.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com