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JGB TECHS

(M1) Bullish Focus

AUSSIE 10-YEAR TECHS

(M1) New Multi-Month Highs

USDCAD TECHS

Clearing Major Support

AUDUSD TECHS

Sizeable Resistance Building

EURJPY TECHS

Needle Still Points North

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  • RES 4: 111.30 High Mar 26, 2020
  • RES 3: 110.97 High Mar 31 and the bull trigger
  • RES 2: 110.55 High Apr 6
  • RES 1: 109.70/96 High May 3 / High Apr 9
  • PRICE: 109.33 @ 16:44 BST May 4
  • SUP 1: 108.44 Low Apr 29
  • SUP 2: 107.48 Low Apr 23 and the bear trigger
  • SUP 3: 106.97 Low Mar 4
  • SUP 4: 106.78 50.0% retracement of the Jan - Mar rally

The USDJPY outlook remains bullish despite Monday's move lower. The pair recently traded below trendline support drawn off the Jan 6 low however last week's recovery means the trendline remains intact and a key support has been defined at 107.48, Apr 23 low. Further gains are likely and attention is on 109.96, Apr 9 high. Initial support lies at 108.44, Apr 29 low. A break of 107.48 though is required to reinstate a bearish theme.