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JGB TECHS

(M1) Bullish Focus

AUSSIE 10-YEAR TECHS

(M1) New Multi-Month Highs

USDCAD TECHS

Clearing Major Support

AUDUSD TECHS

Sizeable Resistance Building

EURJPY TECHS

Needle Still Points North

Bullish Having Topped Key Fib

EURO-YEN TECHS
  • RES 4: 128.69 61.8% 2018 - 2020 Decline
  • RES 3: 127.79 2.0% 10-dma envelope
  • RES 2: 126.81 High Apr 17, 2019
  • RES 1: 126.76 High Aug 13
  • PRICE: 126.28 @ 04:51 BST Aug 14
  • SUP 1: 124.34 Low Aug 10/11
  • SUP 2: 122.84 Low Jul 24 and key support
  • SUP 3: 122.47 Low Jul 21
  • SUP 4: 121.82 Low Jul 15 and 16

Having topped the 50% retracement of the 2018-2020 decline Wednesday, EUR/JPY added to gains Thursday, rising to just shy of the next historical resistance at 126.81. This keeps the outlook resolutely bullish. RSI measures have tipped back into overbought territory, which may slow progress from here. To the downside, a close below 124.34 would signal a top and highlight the potential for a correction.

MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com