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USDJPY TECHS

Monitoring Trendline Support

EURGBP TECHS

Testing Support

GBPUSD TECHS

Eyeing Key Resistance

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  • RES 4: 150.69 76.4% retracement of the Feb 12 - 26 sell-off
  • RES 3: 150.39 High Mar 11 and key short-term resistance
  • RES 2: 149.88 High Apr 6
  • RES 1: 149.47 High Apr 8
  • PRICE: 148.44 @ Close Apr 12
  • SUP 1: 148.32 Low Apr 9
  • SUP 2: 148.20 61.8% retracement of the Feb 26 - Mar 11 rally
  • SUP 3: 147.68 76.4% retracement of the Feb 26 - Mar 11 rally
  • SUP 4: 147.56 Low Mar 5

Recent price action in BTP futures have defined resistance at 150.39, Mar 11 high and support at 148.36, Mar 18 low as key short-term directional triggers. A bearish theme continues to dominate though and Friday's sell-off resulted in a test of 148.36. A clear break of this level would strengthen a bearish argument and open 147.56, Mar 5 low. On the upside, initial resistance is at 149.47, Apr 8 high.