FINLAND AUCTION PREVIEW: On offer next week

• RES 4: 149.28 High Apr 3  
• RES 3: 148.27 High Apr 9
• RES 2: 146.33 50-day EMA and key resistance 
• RES 1: 145.92 High May 2
• PRICE: 143.02 @ 07:06 BST May 7
• SUP 1: 141.97 Low Apr 29   
• SUP 2: 139.79 1.382 proj of the Feb 12 - Mar 11 - 28 price swing
• SUP 3: 138.82 1.500 proj of the Feb 12 - Mar 11 - 28 price swing
• SUP 4: 138.07  Low Jul 28 ‘23

The primary trend direction in USDJPY remains bearish and gains since Apr 22 appear corrective. Resistance at the 50-day EMA, at 146.33, remains intact. A clear break of this average would highlight a possible reversal. Moving average studies are in a bear-mode position and continue to highlight a dominant downtrend. A resumption of the trend would open 139.79 next, a Fibonacci projection. First key support to watch is 141.97, the Apr 29 low.

• GERMANY MARCH FACTORY ORDERS +3.6% M/M

• MNI: SWEDEN FLASH APR CPIF +2.3% Y/Y