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USDJPY Below 147 On Dovish Fed Repricing


BLOCK, 10Y Buy


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DOLLAR-CANADA: TECHS: Doji And A Possible Base?
*RES 4: 1.3833 High May 29
*RES 3: 1.3715 Low May 29
*RES 2: 1.3585 High Jun 2 and key near-term resistance
*RES 1: 1.3513 High Jun 5
*PRICE: 1.3479 @ 06:19 BST Jun 11
*SUP 1: 1.3316 Low Jun 10 and bear trigger
*SUP 2: 1.3267 Low Feb 25
*SUP 3: 1.3202 Low Feb 21
*SUP 4: 1.3121 3.0% 10-dma envelope
USDCAD traded lower yesterday probing 1.3357, 76.4% retracement of the Jan - Mar
rally. A downtrend remains intact however it is worth noting that trend
conditions are oversold and the risk of a corrective bounce has increased.
Yesterday's candle pattern is a doji and this suggests a base may have been
identified at yesterday's low of 1.3316. Initial firm resistance is at 1.3585,
Jun 2 high. Sub 1.3316 levels would confirm a resumption of the downtrend.

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