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SCHATZ TECHS

(Z1) Gains Considered Corrective

BOBL TECHS

(Z1) Outlook Remains Bearish

BUND TECHS

(Z1) Bearish Price Sequence Intact

INDIA

Bond Index Inclusion Boost Expected

FOREX

High Beta Currencies Pressured

EQUITIES

Defensive Start To The Week

Watching Support At 105.10

DOLLAR-YEN TECHS
  • RES 4: 107.15 100-dma
  • RES 3: 107.05 High Aug 13 and the bull trigger
  • RES 2: 106.68 High Aug 17
  • RES 1: 106.22 High Aug 20
  • PRICE: 105.63 @ 06:01 BST Aug 21
  • SUP 1: 105.10 Low Aug 19
  • SUP 2: 104.86 76.4% retracement of the Jul 31 - Aug 13 rally
  • SUP 3: 104.19 Low Jul 31 and a major support
  • SUP 4: 103.67 76.4% retracement of the Mar 9 - 24 rally

USDJPY bearish concerns have receded somewhat following Wednesday's gains. In pattern terms, Wednesday's activity is a bullish engulfing reversal candle. If correct, it does suggest a base has been found at 105.10. An extension higher would refocus attention on the 107.05 key resistance, Aug 13 high. Sub 105.10 levels however would instead again highlight a bearish risk and open the major support at 104.19.

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