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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

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  • RES 4: 133.50/77 Bull channel top / 2.0% 10-dma envelope
  • RES 3: 133.13 High Sep 21, 2018 and a key resistance
  • RES 2: 132.68 High Sep 27, 2018
  • RES 1: 132 36/37 2.236 of Jun-Sep-Oct 2020 swing/High Apr 29
  • PRICE: 132.11 @ 18:12 BST May 7
  • SUP 1: 130.97 High Apr 20 and recent breakout level
  • SUP 2: 130.87 20-day EMA
  • SUP 3: 130.57 Low Apr 27
  • SUP 4: 129.99 Bull channel base drawn off the Oct 30, 2020 low

EURJPY outlook remains bullish with the recent pullback now largely erased. The cross recently cleared 130.97, Apr 20 high and attention is on 132.36, a Fibonacci projection. This level has recently been tested, a clear break would signal scope for an extension higher within the bull channel drawn off the Oct 30 2020 low. Moving average studies are in a bull mode reinforcing current conditions. Support is at 130.57, Apr 27 low.