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Rupiah Falls Amid Rising U.S. Yields

JGBS AUCTION

Japanese MOF sells Y2.8479tn 1-Year Bills:

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  • RES 4: 116.87 High Jan 11, 2017
  • RES 3: 116.09 1.764 proj of Apr 23 - Jul 2 - Aug 4 price swing
  • RES 2: 115.52 High Nov 24
  • RES 1: 114.27 20-day EMA
  • PRICE: 113.41 @ 17:21 GMT Nov 26
  • SUP 1: 113.20 50-day EMA
  • SUP 2: 112.73 Low Nov 9 and a reversal trigger
  • SUP 3: 112.08 High Sep 30 and a recent breakout level
  • SUP 4: 111.32 61.8% retracement of theAug - Nov rally

USDJPY continues to slide, resulting in a break of key short-term support at 113.59, Nov 19 low. The break lower highlights a stronger short-term bearish threat with the pair showing below the 50-day EMA at 113.20. This average represents an area of trend support and a clear break would weigh on the pair and expose 112.73, the Nov 9 low. On the upside, key resistance has this week been defined at 115.52, the Nov 24 high and the bull trigger.