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AUSSIE 3-YEAR TECHS

(Z1) Testing Bear Trigger

USDCAD TECHS

Corrective Pullback

AUDUSD TECHS

Holding Above Recent Lows

Support At 105.10 Holds

DOLLAR-YEN TECHS
  • RES 4: 107.15 100-dma
  • RES 3: 107.05 High Aug 13 and the bull trigger
  • RES 2: 106.68 High Aug 17
  • RES 1: 106.22 High Aug 20
  • PRICE: 105.88 @ 17:23 BST Aug 21
  • SUP 1: 105.10 Low Aug 19
  • SUP 2: 104.86 76.4% retracement of the Jul 31 - Aug 13 rally
  • SUP 3: 104.19 Low Jul 31 and a major support
  • SUP 4: 103.67 76.4% retracement of the Mar 9 - 24 rally

USDJPY bearish concerns receded somewhat last week following gains on Aug 19. In pattern terms, Wednesday's activity was a bullish engulfing reversal candle. If correct, it signals a base has been found at 105.10. An extension higher would refocus attention on the 107.05 key resistance, Aug 13 high. Sub 105.10 levels however would instead again highlight a bearish threat and open the major support at 104.19.