USDJPY TECHS: Approaching The Bull Trigger

• RES 4: $44.000 - Round number resistance
• RES 3: $45.128 - 3.236 proj of the Jul 31 - Aug 14 - 20 price swing
• RES 2: $44.533 - 3.000 proj of the Jul 31 - Aug 14 - 20 price swing
• RES 1: $44.468 - High Sep 23       
• PRICE: $44.158 @ 08:04 BST Sep 24
• SUP 1: $41.595 - 20-day EMA 
• SUP 2: $39.758- 50-day EMA
• SUP 3: $36.965 - Low Aug 20  
• SUP 4: $36.216 - Low Jul 31 and a key support

Trend signals in Silver remain bullish. The metal has traded higher this week as the bull cycle extends. Note that moving average studies are in a bull-mode position too, reinforcing current conditions. Sights are $44.533 next, a 3.000 projection of the Jul 31 - Aug 14 - 20 price swing. Clearance of this level would pave the way for a climb towards 45.128, the 3.236 projection. Initial firm support to watch lies at $41.595, the 20-day EMA.

• RES 4: 1.4019 38.2% retracement of the Feb 3 - Jun 16 bear leg 
• RES 3: 1.3925 High Aug 22 and the bull trigger
• RES 2: 1.3890 High Sep 11
• RES 1: 1.3864 High Sep 12 
• PRICE: 1.3853 @ 07:58 BST Sep 24
• SUP 1: 1.3727 Low Aug 29 and a bear trigger  
• SUP 2: 1.3709 61.8% retracement of the Jul 23 - Aug 22 bull cycle
• SUP 3: 1.3658 76.4% retracement of the Jul 23 - Aug 22 bull cycle 
• SUP 4: 1.3637 Low Jul 25  

USDCAD is trading higher this week. A sharp sell-off  from the Sep 11 high,  resulted in a break of the 20-and-50-day EMAs. This undermines a recent bull theme and exposes key short-term support at 1.3727, the Aug 27 low. A clear break of this level would strengthen a bearish threat and signal scope for a deeper retracement. For bulls, resistance levels to watch are; 1.3890, the Sep 11 high, and 1.3925, the Aug 22 high and bull trigger.

Gilt Opening Calls: 91.10/91.17.