BTP TECHS: (H6) Support Remains Intact For Now

• RES 4: 123.14 1.764 proj of the Sep 3 - 11 - 25 price swing
• RES 3: 122.81 1.618 proj of the Sep 3 - 11 - 25 price swing
• RES 2: 122.53 1.500 proj of the Sep 3 - 11 - 25 price swing
• RES 1: 121.94 High Oct 17 / 22 and the bull trigger  
• PRICE: 121.35 @ Close Nov 4
• SUP 1: 120.74 High Aug 5 and a recent breakout level          
• SUP 2: 120.60 50-day EMA 
• SUP 3: 120.13 Low Oct 10 
• SUP 4: 119.48 Low Oct 7

The trend conditions in BTP futures remains bullish and recent weakness is - for now - considered corrective. Note the moving average studies are in a bull-mode position, highlighting a dominant uptrend. The bull trigger is 121.94, the Oct 17 / 24 high. Initial firm support to watch is 120.74, the Aug 5 high. The contract is overbought, a deeper retracement would allow this condition to unwind.

• RES 4: 155.89 High Feb 3
• RES 3: 155.53 2.00% retracement of the Jan 10 - Apr 22 bear leg
• RES 2: 154.80 High Feb 12
• RES 1: 154.48 High Nov 4 
• PRICE: 153.52 @ 07:08 GMT Nov 5 
• SUP 1: 152.96 High Oct 10
• SUP 2: 152.21 20-day EMA   
• SUP 3: 150.41 50-day EMA  
• SUP 4: 149.38 Low Oct 17 

The trend condition in USDJPY unchanged, it remains bullish despite the recent fade off highs. The break higher last week confirmed a resumption of the uptrend and note too that moving average studies are in a bull-mode position, highlighting a dominant uptrend. Sights are on 154.80, the Feb 12 high. First important support to watch lies at 152.21, the 20-day EMA. A deeper pullback would be considered corrective.

Finland has announced it will be looking to sell a combined E2.0bln of the following at its auction next Tuesday, November 11:

• the 6-month May 13, 2026 RFTB
• the 9-month Aug 13, 2026 RFTB