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MNI: AUSTRALIA MONTHLY JUL CPI 0% MM, 3.6% YY

UK: Week Ahead

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Bullish Theme

USDJPY TECHS
  • RES 4: 132.39 High Apr 15 2002
  • RES 3: 131.96 1.00 proj of the Feb 24 - Mar 28 - 31 price swing
  • RES 2: 131.35 High May 9 and the bull trigger
  • RES 1: 130.81 High May 11
  • PRICE: 130.69 @ 06:38 BST Jun 6
  • SUP 1: 128.63 20-day EMA
  • SUP 2: 126.66/36 50-day EMA / Low May 24 and key support
  • SUP 3: 125.09 Low Apr 14
  • SUP 4: 124.01 Low Apr 11

USDJPY is holding on to last week’s gains and maintains a bullish tone. Recent gains have highlighted the importance of the 50-day EMA as support and the pair has also defined a key support at 126.36, May 24 low. The focus is on key short-term resistance at 131.35, May 9 high and the bull trigger A break would confirm a resumption of the primary uptrend and open 131.96, a Fibonacci projection. Initial support is at 128.63, the 20-day EMA

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