USDJPY TECHS: S/T Bull Cycle Still In Play

• US Data/Speaker Calendar (prior, estimate). All times ET
• 09/15 0815 ADP Weekly Employment Change (12,000 prior, --)
• 09/15 0830 Empire Manufacturing (20.6, 15.0)
• 09/15 1130 US Tsy $75B 6W bill auction
• 09/15 1300 US Tsy $13B 20Y Bond re-open (912810UX4)
• Source: Bloomberg Finance L.P. / MNI

• RES 4: 0.8694 High Jun 22 
• RES 3: 0.8652 High Jun 26 
• RES 2: 0.8635 76.4% retracement of the Jun 22 - Jul 15 bear leg
• RES 1: 0.8611 Intraday high
• PRICE: 0.8560 @ 17:30 BST Sep 14
• SUP 1: 0.8554 Low Sep 14 
• SUP 2: 0.8532 Low Aug 12 and key S/T support  
• SUP 3: 0.8518/8455 Low Jul 22 / 15 and the bear trigger
• SUP 4: 0.8443 2.236 projection of the May 18 - 25 - Jun 22 swing  

EURGBP has pulled back from its intraday high. Initial firm support to watch is 0.8532, the Aug 12 low. A clear break of this level would signal a reversal of the corrective cycle that started mid-July. Note that medium-term trend signals continue to highlight a dominant downtrend. For bulls, Monday’s high of 0.8611 marks initial key resistance and a short-term bull trigger. A break of it would confirm a resumption of the recent bull leg.            

• Date $MM Issuer (Priced *, Launch #)
• 09/14 $13.5B #Aon $2B 3Y +63, $3B 5Y +83, $2B 7Y +93, $2.75B 10Y +103, $1B 12Y +115, $750M 20Y +108, $2B 30Y +115
• 09/14 $2.5B #Deutsche Bank $2B 3NC2 +63, $500M 3NC2 SOFR+72
• 09/14 $2.5B TransDigm 8.3NC3 6.75%a
• 09/14 $1.75B #Seminole Tribe Florida $750M 7Y +145, $1B 10Y +160
• 09/14 $1.5B #CDW $600M 3Y +100, $500M +5Y +130, $400M 7Y +150
• 09/14 $1.5B #Hyundai Capital AM $1B 3Y +70, $500M 5Y +85
• 09/14 $750M #Sixth St Lending 5Y +195
• 09/14 $500M #Newcastle Coal 10Y +160
• 09/14 $500M #American Water 7Y +70
• 09/14 $Benchmark Southwestern Electric Power +10Y +110