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Review, Strong 20Y Bond Auction Re-Open


WI 20Y Bond

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*RES 4: 117.31 High May 4
*RES 3: 117.21 1.0% 10-dma envelope
*RES 2: 116.85 High May 12
*RES 1: 116.41 High May 13
*PRICE: 117.19 @ 06:10 BST May 14
*SUP 1: 115.30 Low May 11
*SUP 2: 114.43 Low May 6 and bear trigger
*SUP 3: 113.87 1382 projection of the Feb 20 - Mar 9 decline from Mar 25
*SUP 4: 113.73 Low Nov 9, 2016
EURJPY found support last week at 114.43, May 6 low. The recovery off this level
stalled at 116.85, Tuesday's high and price is trading lower. Recent gains are
most likely a correction with a broader bearish outlook intact. The cross
recently traded at levels last seen in Nov 2016 and also cleared an important
support at 115.45, Apr 29 low to confirm a resumption of the primary downtrend.
The key bear trigger lies at 114.43. Resistance is at 16.85. Bearish!

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