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Recent Gains Considered Corrective


Trend Needle Points North Despite Recent Pullback


Trend Needle Points North Despite Recent Pullback


Late SOFR/Treasury Option Roundup

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Correcting *RES 4: 110.96 High.....>

*RES 4: 110.96 High May 6, 2019
*RES 3: 110.67 High May 21, 2019
*RES 2: 110.29 High Jan 17 and bull trigger
*RES 1: 110.13 High Feb 12
*PRICE: 109.71 @ 10:43 GMT Feb 13
*SUP 1: 109.53 Low Feb 7 and key intraday support
*SUP 2: 109.30 Low Feb 5
*SUP 3: 108.55 Low Jan 4
*SUP 4: 108.31 Low Jan 31
USDJPY is under pressure today. A bullish technical tone however remains intact
following last week's rally and attention remains on 110.29, the Jan 17 high.
This level is also a near-term bull trigger. A break would reinforce bullish
conditions and pave the way for strength towards 110.67, the May 21 high. This
would also confirm a resumption of the broader uptrend that has been in place
since late August last year. Initial support lies at 109.53, the Feb 7 low.

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