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EURJPY TECHS

Needle Still Points North

USDJPY TECHS

Consolidating At Trendline Support

EURGBP TECHS

Support Remains Under Pressure

GBPUSD TECHS

Key Resistance Exposed

EURUSD TECHS

Consolidating

EUROSTOXX50 TECHS

(M1) Approaching Key Support

Clears Friday High

EURO-YEN TECHS
  • RES 4: 127.07 3.0% Upper Bollinger Band
  • RES 3: 126.81 2.0% 10-dma envelope, High Apr 17, 2019
  • RES 3: 125.97 50% 2018 - 2020 Decline
  • RES 1: 125.51 High Aug 5
  • PRICE: 125.33 @ 05:33 BST Aug 6
  • SUP 1: 123.60 20-day EMA
  • 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

The recovery off the Monday low extended Wednesday, taking out the Friday high at 125.21 and firming the outlook in the process. The move also took out 125.23, the May 1 2019 high, to register new multi-year highs. Markets now look to Fib resistance at 125.97 and 126.68. To the downside, a close below 123.06 would signal a top and highlight the potential for a correction.

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