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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

Bulls Still In Charge

EURJPY TECHS
  • RES 4: 134.80 High Feb 8, 2018
  • RES 3: 134.19 1.618 proj of Jun-Sep-Oct 2020 swing
  • RES 2: 134.18 Bull channel top drawn off the Oct 30, 2020 low
  • RES 1: 133.44 High May 19
  • PRICE: 132.89 @ 15:53 BST May 24
  • SUP 1: 132.37 High Apr 29 and recent breakout level
  • SUP 2: 131.69 Low May 12
  • SUP 3: 130.99 Low May 5 and a key support
  • SUP 4: 130.67 Bull channel base drawn off the Oct 30, 2020 low

EURJPY bulls are still in control although price remains below recent highs. Last week's extension reinforces bullish conditions and signals scope for further gains within the rising channel drawn off the Oct 30 2020 low. The top of the channel intersects at 134.18. Moving average studies are still pointing north, reinforcing current conditions. Initial firm support lies at 131.69, May 12 low. A firmer trend support is found at 130.99, May 5 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com