USDJPY TECHS: Resistance Remains Intact
- RES 4: 150.49 High Apr 2
- RES 3: 149.28 High Apr 3
- RES 2: 147.67/148.65 High May 14 / 12 and a reversal trigger
- RES 1: 145.46/146.28 High Jun 11 / High May 29 and key resistance
- PRICE: 143.99 @ 16:30 BST Jun 13
- SUP 1: 142.12 Low May 27 and a key support
- SUP 2: 141.96 76.4% retracement of the Apr 22 - May 12 bull leg
- SUP 3: 139.89 Low Apr 22 and a bear trigger
- SUP 4: 138.82 1.50 proj of the Feb 12 - Mar 11 - 28 price swing
USDJPY continues to trade below this week’s high. The latest pullback suggests the correction between Jun 3 - 11, is over. The trend remains bearish - moving average studies remain in a clear bear-mode position too, highlighting a dominant downtrend. A continuation lower would signal scope for a test of 142.12, the May 27 low. Key short-term resistance is 146.28, the May 29 high. First resistance is at 145.46, the Jun 11 high.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
US TSY FUTURES: June'25-September'25 Roll Update
Tsy quarterly futures roll volumes from June'25 to September'25 rather muted this morning, percentage complete is still running less that 5% across the curve ahead the "First Notice" date on May 30. Current roll details:
- TUM5/TUU5 appr 13,000 from -8.5 to -7.88, -7.88 last
- FVM5/FVU5 appr 95,200 from -3.75 to -2.75, -2.75 last
- TYM5/TYU5 appr 25,200 from -1.75 to -0.75, -0.75 last
- UXYM5/UXYU5 appr 13,600 from 3.5 to 3.75, 3.75 last
- USM5/USU5 appr 1,900 from 9.75 to 10.25, 10.0 last
- WNM5/WNU5 appr 6,300 from 5.5 to 6.0, 5.75 last
- Reminder, June futures won't expire until next month: 10s, 30s and Ultras on June 18, 2s and 5s on June 30. June Tsy options, however, expire May 23.
US TSY OPTIONS: Jun'25 2Y Ratio Call Spread
- 4,500 TUN5 103.75/1042x3 call spds, 4 net ref 103-15.5
EURGBP TECHS: Edges Off Lows
- RES 4: 0.8768 High Nov 20 ‘23
- RES 3: 0.8624/0.8738 High Apr 21/ High Apr 11 and the bull trigger
- RES 2: 0.8541/8557 High May 2 / High Apr 28
- RES 1: 0.8465 50-day EMA
- PRICE: 0.8434 @ 15:52 BST May 14
- SUP 1: 0.8403 Low May 12
- SUP 2: 0.8400 Round number support
- SUP 3: 0.8359 1.236 proj of the Apr 11 - 16 - 21 price swing
- SUP 4: 0.8316 Low Mar 28 and a key support
EURGBP is trading just above recent lows. The cross traded to a fresh, short-term cycle low Monday, strengthening a bearish theme. It has also cleared support at 0.8465, the 50-day EMA, signalling scope for a continuation lower. Sights are on 0.8415 next, a Fibonacci retracement. This level has been pierced, a clear break of it would open 0.8400 and below. Key near-term resistance is 0.8541, the May 2 high. A break of it is required to signal a potential reversal.
