PIPELINE: Corporate Bond Update: $2B Lockheed Martin 3Pt Launched

• Latest developments in Qatar surrounding missiles launched towards a US air base are having little effect on the currency markets, with the dollar maintaining its bearish bias seen across the second half of Monday’s session. The Ice dollar index continues to hover around Friday’s lows.
• For USDJPY, spot now resides almost 170 pips off the earlier 148.03 highs and will look to the opening lows at 146.00 as an immediate target. Below here, support to watch lies at 145.08, the 50-day EMA.

• RES 4: 1.1783 1.764 proj of the Feb 28 - Mar 18 - 27 price swing
• RES 3: 1.1696 1.618 proj of the Feb 28 - Mar 18 - 27 price swing
• RES 2: 1.1685 76.4% retracement of the Jan ‘21 - Sep ‘22 downleg
• RES 1: 1.1544/1631 High Jun 20 / 12 and the bull trigger 
• PRICE: 1.1531 @ 15:35 BST Jun 23
• SUP 1: 1.1444 20-day EMA
• SUP 2: 1.1310/1.1210 50-day EMA and a pivot level / Low May 29
• SUP 3: 1.1131 Low May 16 
• SUP 4: 1.1065 Low May 12 and a reversal trigger 

The trend set-up in EURUSD is unchanged and remains bullish,  reinforced by the intraday rally off lows. This confirms recent weakness as still appearing corrective. The climb on Jun 12 resulted in a breach of 1.1573, the Apr 21 high. This strengthens the bullish theme and confirms a resumption of this year's uptrend. Scope is seen for a climb towards 1.1696, a Fibonacci projection. Initial firm support to watch lies at 1.1444, the 20-day EMA. The 50-day EMA lies at 1.1310.      

• 9,000 UXYU5 113-20.5, sell through 113-21 post time bid at 1237:43ET, DV01 $790,000.
• The 10Y ultra bond trades 113-18 last (+20)