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EGB OPTIONS

Downside Bund play

EUR

Exchange traded option

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  • RES 4: 112.23 High Feb 20, 2020 and a key resistance
  • RES 3: 111.71 High Mar 24 and a key resistance
  • RES 2: 111.30/32 High Mar 26, 2020 / 1.0% 10-dma envelope
  • RES 1: 111.12 High Jun 24
  • PRICE: 110.87 @ 16:33 BST Jun 24
  • SUP 1: 109.72 Low June 21
  • SUP 2: 109.40/19 50-day EMA / Low Jun 7
  • SUP 3: 108.56/34 Low May 25 / Low May 7 and key S/T support
  • SUP 4: 107.48 Low Apr 23 and the bear trigger

USDJPY traded higher Thursday and delivered fresh 2021 highs, with a print above Y110.97, Mar 31 high and the previous bull trigger. This cements the uptrend and maintains a bullish price sequence of higher highs and higher lows. Attention is on 111.30/32, the Mar 26, 2020 high and 1.0% 10-dma envelope. Initial key support is unchanged at 109.72, Jun 21 low. A break of this level is required to signal a top.