BUNDS: EU CPI and US NFP are at the forefront Today

• RES 4: 165.43 High Nov 8        
• RES 3: 164.90 High Dec 30 ‘24 and a key medium-term resistance   
• RES 2: 164.55 High Jan 7
• RES 1: 164.19 High Mar 18 and the bull trigger 
• PRICE: 161.69 @ 07:11 GMT Apr 2 
• SUP 1: 160.78 Low Apr 1 pivot support and the 50-day EMA 
• SUP 2: 160.06 Low Mar 13   
• SUP 3: 158.90 Low Mar 10  
• SUP 4: 158.00 Round number support 

The trend structure in EURJPY remains bullish and recent weakness appears corrective. The pullback has allowed an overbought condition to unwind. Pivot support is 160.75, the 50-day EMA. A break of it would signal potential for a deeper retracement. For bulls, attention is on 164.08, the Jan 24 high. It has been pierced, a clear break of this hurdle would strengthen a bullish condition and open 164.90, the Dec 30 ‘24 high.

Finland has announced it will be looking to sell a combined E2.0bln of the following at its auction next Tuesday, April 8:

• the 7-month Nov 13, 2025 RFTB
• the 10-month Feb 13, 2026 RFTB

• RES 4: 93.79 High Mar 4     
• RES 3: 93.01 High Mar 20        
• RES 2: 92.55 61.8% retracement of the Apr 4 - 27 bear leg 
• RES 1: 92.42 Trendline resistance drawn from the Mar 4 high                       
• PRICE: 92.08 @ Close BST Apr 1
• SUP 1: 91.59 Low Mar 31                                      
• SUP 2: 91.03 Low Mar 28  
• SUP 3: 90.55 Low Mar 27 and the bear trigger   
• SUP 4: 90.49 1.618 proj of the Feb 6 - 20 - Mar 4 price swing

The short-term trend outlook in Gilt futures remains bearish, however, recent gains highlight a corrective cycle and this signals scope for a stronger recovery near-term. An extension would open 92.42, a trendline resistance drawn from the Mar 4 high. Clearance of this level would strengthen the short-term bull cycle. Key support and the bear trigger has been defined at 90.55, the Mar 27 low.