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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

Bullish Conditions Intact

EURJPY TECHS
  • RES 4: 127.88 0.618 proj of May 6 - Jun 5 rally from Oct 30 low
  • RES 3: 127.50/67 High Mar 1, 2019 / Bull channel top off Oct 30 low
  • RES 2: 127.08 High Sep 1
  • RES 1: 126.74 High Dec 10 and the bull trigger
  • PRICE: 126.61 @ 06:13 GMT Dec 18
  • SUP 1: 125.71 Low Dec 16
  • SUP 2: 125.13 High Nov 9 and recent breakout level
  • SUP 3: 124.75 50-day EMA
  • SUP 4: 124.68 Bull channel base drawn off the Oct 30 low

EURJPY is firmer but within its recent consolidative range. The outlook is bullish. Recent activity appears to be a bull flag, a continuation pattern that reinforces bullish conditions. The cross recently cleared the former bull trigger at 125.13, Nov 9 high and 125.79, 76.4% of the downleg between Sep 1 and Oct 30, strengthening the case for bulls. Key resistance is at 127.08, Sep 1 high. A break would resume the broader uptrend. Initial support is at 125.71.

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