USDJPY TECHS: Bullish Trend Sequence

Gilt calls, 90.60/90.62.

Estox 50: -0.08%, Dax: -0.27%, CAC: +0.15%, FTSE +0.20%, SMI +0.39%,

• RES 4: 1.4111 High Apr 10 
• RES 3: 1.4019 38.2% retracement of the Feb 3 - Jun 16 bear leg
• RES 2: 1.3968 High May 20 
• RES 1: 1.3959 High Sep 26
• PRICE: 1.3914 @ 07:55 BST Oct 1
• SUP 1: 1.3885/3814 Low Sep 25 / 50-day EMA  
• SUP 2: 1.3727 Low Aug 29 and a bear trigger
• SUP 3: 1.3689 Low Jul 28  
• SUP 4: 1.3637 Low Jul 25  

A bullish theme in USDCAD remains intact and the pair is trading closer to its latest highs. Recent gains have resulted in the breach of a key resistance at 1.3925, the May 20 high and bull trigger. The break confirms a resumption of the bull cycle that started Jun 16. This paves the way for a climb towards 1.4019, a Fibonacci retracement point. On the downside, first key support lies at 1.3814, the 50-day EMA.