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TECHS: Price Signal Summary - Yen Weakens

MARKET INSIGHT
  • In the FX space, USDJPY has this week cleared two important resistance levels:
    • The bear channel resistance drawn off the Mar 24 high and
    • 104.40, Nov 11 high.
  • The break highlights a key reversal and also an important shift in sentiment. 105.00 is within reach, the focus is on 105.16 High Nov 13.
  • EURJPY is also bid this morning. The focus is on key resistance at 127.49, Jan 7 high.
  • The key directional triggers in EURUSD are: support at 1.2054, Jan 18 low and 1.2190 resistance, Jan 22 high.
  • EURGBP outlook remains bearish with the focus on 0.8808, May 13 low. Resistance is at 0.8925, Jan 18 high
  • On the commodity front, Gold remains above near-term support. A deeper sell-off would expose $1804.7, Jan 18 low. Oil contracts remain above support. Brent (J1) support to watch is $54.40, Jan 22 low and WTI (H1) support lies at $51.44, the low from Jan 22.
  • In the FI space:
    • Bunds (H1) are lower. Support levels to watch are: 177.12, Jan 25 low and 176.63, Jan 22 low.
    • Gilts (H1) are pulling away from recent highs. Firm support is seen at 133.79, Jan 29 low
  • In equities, E-mini S&P futures traded sharply lower Wednesday. Support to watch is at 3699.29, the 50-day EMA. A break would open 3652.50, Jan 4 low and reinforce a developing bearish theme.
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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