USDJPY TECHS: Bearish Price Activity
- RES 4: 145.11 Low Oct 27 and a recent breakout level
- RES 3: 142.86 50-day EMA
- RES 2: 142.48 High Nov 11
- RES 1: 139.64/142.25 High Nov 24 / High Nov 21 and key resistance
- PRICE: 137.84 @ 20:16 GMT Nov 30
- SUP 1: 137.50 Low Nov 28
- SUP 2: 137.37 Low Aug 29
- SUP 3: 135.82 Low Aug 23
- SUP 4: 135.49 76.4% retracement of the Aug 2 - Oct 21 bull leg
The short-term trend condition in USDJPY remains bearish following last week’s move lower. Monday’s extension resulted in a print below support at 137.68, the Nov 15 low. A clear break of this level would confirm a resumption of the downtrend and open 137.37, the Aug 29 low. Key short-term resistance is seen at 142.25, the Nov 21 high. A break of this level would alter the picture and signal a possible reversal.
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US TSY FUTURES: Unexpected Late Surge Extends Highs after Tsy-Tied Sell-Off
TSy futures gapped higher in the last few minutes, talk of flash rally or fat finger making the rounds -- but more likely month-end buying hitting an air pocket after Tsys gapped lower following the Tsy dept annc raising Q4 borrowing by $150B.
Tsy 30YY gapped to 4.2274% high and back to 4.1436% at the moment, yield curves flatter:
- 3M10Y +4.431, -3.34 (L: -11.359 / H: 2.336)
- 2Y10Y -2.438, -43.455 (L: -45.946 / H: -40.734)
- 2Y30Y -5.013, -33.214 (L: -35.878 / H: -28.624)
- 5Y30Y -3.835, -8.204 (L: -10.957 / H: -4.103)
EURJPY TECHS: Primary Trend Direction Is Up
- RES 4: 149.46 1.382 proj of the May 12 - Jun 28 - Aug 2 price swing
- RES 3: 148.88 High Dec 9 2014
- RES 2: 148.40/45 High Oct 21 and the bull trigger / High Dec 15 2014
- RES 1: 147.75 High Oct 31
- PRICE: 146.91 @ 16:14 BST Oct 31
- SUP 1: 145.08 / 143.80 20-day EMA / Low Oct 24 and key support
- SUP 2: 142.89 50-day EMA
- SUP 3: 141.78 Low Oct 13
- SUP 4: 140.90 Low Oct 10
EURJPY continues to trade below the Oct 21 high 148.40. The trend condition is bullish. A key support lies at 143.80, the Oct 24 low, where a break is required to suggest scope for a deeper pullback. Attention is on 148.40. This is a bull trigger and a break would confirm a resumption of the uptrend and open 149.46, a Fibonacci retracement. MA studies continue to highlight a bullish backdrop. Initial support to watch is 145.08, 20-day EMA.
US TSY FUTURES: BLOCK, Late Ultra-Bond Sale
- -4,500 WNZ2 127-21, sell through 127-25 post-time bid at 1549:40ET
