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GBP

BoE Day, Changes Expected

AUDUSD TECHS

Corrective Cycle

EURJPY TECHS

Bounce Considered Corrective

USDJPY TECHS

Touches New 2021 High

UK

Timeline of key events (Times BST)

AUSSIE BONDS

RBA Pricing Further From Hawkish Extremes,

Pulling Away From The Channel Top

USDJPY TECHS
  • RES 4: 105.16 High Nov 13
  • RES 3: 104.95 76.4% retracement of the Nov 11 - Jan 6 downleg
  • RES 2: 104.76/88 High Nov 24 / 1.0% 10-dma envelope
  • RES 1: 104.09/40 Channel top drawn off Mar 24 high / High Jan 11
  • PRICE: 103.56 @ 17:07 GMT Jan 21
  • SUP 1: 103.33 Low Jan 21
  • SUP 2: 103.28/02 61.8% and 76.4 % of the Jan 6 - 11 rally
  • SUP 3: 102.59 Low Jan 6 and the bear trigger
  • SUP 4: 102.02 Low Mar 10

USDJPY traded lower Wednesday and trades broadly flat Thursday. Recent attention has been on 104.09, the bear channel top drawn off the Mar 24 high. The channel has contained recent gains and following a failure to break higher, USDJPY is pulling away from recent highs. Support at 103.53, Jan 13 low has been breached opening 103.28 and 103.02, Fibonacci retracements. Clearance of 104.09 and 104.40, Jan 11 high would reverse the trend.