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CROSS ASSET

Commodity-Tied Dollar Bloc Leads

JGBS

Cheaper On Wider Impetus

AUSSIE BONDS

YM Off Lows, Trouble Staying Offered In Wake Of GDP

FED

VIEW: BNP Paribas: Faster Tapering

US EURODLR FUTURES

Some Light Selling Seen

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  • RES 4: 134.40 2.382 proj of the Sep 22 - 29 - Oct 6 price swing
  • RES 3: 134.13 High Jun 1 and a key resistance
  • RES 2: 133.76 High Jun 10
  • RES 1: 133.48 High Oct 20
  • PRICE: 132.28 @ 15:50 BST Oct 22
  • SUP 1: 132.15/131.08 Low Oct 18 / 20-day EMA
  • SUP 2: 130.75 Sep 3 high
  • SUP 3: 130.37 50-day EMA
  • SUP 4: 129.28 Low Oct 11

EURJPY showed below the Thursday lows ahead of the close, but the dips are considered corrective. This week's gains confirmed an extension of the upleg that started Oct 6. The cross has also recently cleared 130.75, the Sep 3 high bull trigger and the rally maintains an impulsive bullish drive. The focus is on 133.76 next, Jun 10 high and 134.13, the Jun 1 high. Initial support is at 132.15, Oct 18 low. A break would suggest scope for a deeper corrective pullback.