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EUROZONE ISSUANCE

EGB Supply for W/C Jul 26

USDCAD TECHS

Pullback Considered Corrective

US TSYS SUMMARY

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GLOBAL POLITICAL RISK

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Trading Above Former Key Resistance

EURO-YEN TECHS
  • RES 4: 139.31 1.00 proj of May 6 - Jun 5 rally from Jun 22 low
  • RES 3: 128.69 61.8% retracement of the 2018 - 2020 downtrend
  • RES 2: 127.50 High Mar 1, 2019
  • RES 1: 126.95 0.764 proj of May 6 - Jun 5 rally from Jun 22 low
  • PRICE: 126.65 @ 10:42 BST Sep 1
  • SUP 1: 125.25/14 20-day EMA / Low Aug 27
  • SUP 2: 124.44 Low Aug 21
  • SUP 3: 124.34 Low Aug 10/11 and key support
  • SUP 4: 123.77 50-day EMA

EURJPY is holding onto gains and is once again trading above recent key resistance at 126.67, Aug 13 high. The breach of 126.67 confirms a resumption of the uptrend that has been in place since early May and open 126.95, a Fibonacci projection. Sustained gains would also set the scene for an extension towards 127.50, the Mar 1, 2019 high and a key resistance. On the downside, initial support lies at 125.25.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com