USDJPY TECHS: Support Remains Intact For Now

A new survey from NPR/PBS/Marist has found that “most Americans say that they are against the military action and disapprove of how President Trump is handling it... By a 56%-44% margin, respondents said they oppose the military action.”

• According to NPR, “Just 36% approve of how Trump is handling Iran, and a majority (55%) thinks Iran either represents a minor threat or no threat at all to the United States. However, 44% do see Iran as a major threat, and Republicans continue to heavily support the actions and this president. Democrats (86%) and independents (61%) are largely aligned with each other in opposition to the military action. But 84% of Republicans support it.”

Figure 1: Would you support or oppose the US sending ground troops into Iran? 

Source: NPR, PBS, Marist 

• RES 4: 1.1835 High Feb 23  
• RES 3: 1.1752 50-day EMA
• RES 2: 1.1740 20-day EMA
• RES 1: 1.1655 High Mar 4
• PRICE: 1.1588 @ 15:52 GMT Mar 9
• SUP 1: 1.1507 Intraday Low Mar 09
• SUP 2: 1.1491 Low Nov 21 ‘25
• SUP 3: 1.1456 1.50 proj of the Jan 27 - Feb 6 - 10 price swing
• SUP 4: 1.1392 Low Aug 1 ‘25 

A bear cycle in EURUSD remains in play and Monday’s fresh cycle low reinforces current conditions. The pair has traded below 1.1573, the Jan 19 low and a key support. A clear break of it would open 1.1491, the Nov 21 ‘25 low. Note that moving average studies highlight a bearish cross - if confirmed this would signal a medium-term bearish development. First resistance is 1.1655, the Mar 4 high.

• Date $MM Issuer (Priced *, Launch #)
• 03/09 $Bookmark investor calls today: Sumisho Air Lease, GATX, Kexim
• Expected Tuesday:
• 03/10 $Bookmark KFW 3Y +30a
• 03/06 No new issuance Friday, $78.5B total on week