FINLAND T-BILL AUCTION PREVIEW: On offer next week

• RES 4: 161.95 High Jul 3 ‘24 and a major resistance
• RES 3: 161.46 1.618 proj of the Jan 27 - Feb  - 12 price swing
• RES 2: 160.79 1.500 proj of the Jan 27 - Feb  - 12 price swing
• RES 1: 160.46 High Mar 30 and the bull trigger
• PRICE: 159.79 @ 07:00 BST Apr 7  
• SUP 1: 158.28 Low Apr 1
• SUP 2: 157.72 50-day EMA 
• SUP 3: 156.46 Low Mar 5 
• SUP 4: 155.85 Low Mar 2 

The trend in USDJPY remains bullish and short-term shallow pullbacks are considered corrective. Note that moving average studies are in a bull-mode position, highlighting a dominant medium-term uptrend. Sights are on 160.79 next, a Fibonacci projection. Initial firm support to watch lies at 157.72, the 50-day EMA. A clear break of this average would signal scope for a deeper retracement.

• MNI: SWEDEN MAR FLASH CPIF 1.59% Y/Y (1.71% FEB)
• SWEDEN MAR FLASH CPIF-XE 1.14% Y/Y (1.38% FEB)

• RES 4: 6903.00 High Mar 10   
• RES 3: 6769.31 50-day EMA
• RES 2: 6748.00 High Mar 23
• RES 1: 6650.03/6661.00 20-day EMA / High Apr 6     
• PRICE: 6617.75 @ 06:42 BST Apr 7
• SUP 1: 6503.75/6353.25 Low Apr 2 / Low Mar 31 and the bear trigger   
• SUP 2: 6316.61 3.236 proj of the Feb 11 - 17 - 25 price swing
• SUP 3: 6300.00 Round number support
• SUP 4: 6284.20 3.382 proj of the Feb 11 - 17 - 25 price swing 

A strong rally in S&P E-Minis last week highlights the start of a corrective phase. Note that a correction is allowing an oversold trend condition to unwind. Initial firm resistance to watch is 6650.03 the 20-day EMA. A clear break of this average would signal potential for an extension towards 6769.31, the 50-day EMA and a key area of resistance. The bear trigger has been defined at 6753.25, the Mar 31 low.