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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

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  • RES 4: 134.19 1.618 proj of Jun-Sep-Oct 2020 swing
  • RES 3: 133.99 Bull channel top drawn off the Oct 30, 2020 low
  • RES 2: 133.28 1.50 proj of Jun-Sep-Oct 2020 swing
  • RES 1: 133.18 High May 18
  • PRICE: 133.16 @ 20:08 BST May 18
  • SUP 1: 132.37 High Apr 29 and recent breakout level
  • SUP 2: 131.69 Low May 12
  • SUP 3: 130.99 Low May 5 and a key support
  • SUP 4: 130.57 Low Apr 27

EURJPY traded higher again Tuesday to a new cycle high of 133.18. This reinforces bullish conditions and signals scope for further gains within the bull channel drawn off the Oct 30 2020 low. The top of the channel intersects at 133.99. Moving average studies are still pointing north, also reinforcing current conditions. Initial firm support lies at 131.69, May 12 low. A firmer trend support is found at 130.99, May 5 low.