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USDJPY TECHS

Still Pointing Higher

FOREX

A Volatile US Yield Curve Leads USD to Outperform

EURGBP TECHS

Bouncing Well

EQUITIES

Wave of Risk Off Follows US Yield Spike

GBPUSD TECHS

Bulls Press Pause

CROSS ASSET

Another Wave of Risk-Off Follows US Yield Spike

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Multi-month Lows
Risk-off flow dominated through Europe which saw USDJPY breach trendline support
& the 109.00 level with ease. The downtrend extended through 108.75 with next
support seen on approach to 108.50. Below here opens the 3% lower Bollinger band
& 61.8% retracement of 104.56-114.55 at 108.41/38. Bulls need to recover
109.15/20 (hourly lows May 29) to stabilise the outlook. Above here opens the
21-dma & May 30 high at 109.87/93, ahead of a run at the 110 level.