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US-Israel-Iran Conflict: ① Iran 1. Iran claims US-Israeli strikes have injured over 18,000 civilians. 2. Iran claims the 65th round of Operation Real Commitment-4 targeted Israeli oil refineries and US military bases. 3. Iran states it continues to target US and Israeli infrastructure and hints at a possible Israeli attack on Saudi Aramco. 4. Iranian lawmakers say parliament is considering a bill to impose tolls and taxes on ships attempting to safely pass through the Strait of Hormuz. 5. On March 18, a judicial institution in Larestan County, Fars Province, southern Iran, was attacked by the US and Israel, resulting in 14 deaths and 50 injuries. 6. Iranian Foreign Minister: If our infrastructure is attacked again, we will not hesitate to take action. Any solution to this war must address the damage to our civilian infrastructure. ② US 1. According to Politico: The US will not implement an oil export ban. 2. The US Senate again rejected a resolution limiting military action against Iran. 3. The US Department of Defense reportedly requested an additional $200 billion in funding for the war against Iran. 4. Sources say the US government is considering deploying thousands of troops to the Middle East. 5. Trump says he has told Israel not to attack energy facilities in Iran. 6. A US F-35 fighter jet made an emergency landing after being suspected of being hit by Iranian fire. 7. CIA Director: Israel has not forced the US to take action regarding attacks on Iran. 8. US media reports that the US military may occupy Harg Island to force Iran to open the Strait of Hormuz. 9. Trump: Harg Island can be taken at any time. No troops will be deployed anywhere. 10. US Treasury Secretary: The US may lift sanctions on Iranian maritime oil in the coming days. 11. The US replenished supplies for the UAE, Kuwait, and Jordan, approving a $16.5 billion arms sale. 12. US Director of National Intelligence Gabbard: Trumps objectives against Iran are different from Israels. 13. US Central Command: US forces are destroying Iranian naval targets that threaten the Strait of Hormuz and nearby international shipping. ③ Israel: 1. Israeli Chief of Staff: Israels military action against Iran is "not even halfway done." 2. Israeli media: Iranian missile hit Haifa oil refinery, causing no casualties. 3. Israeli Prime Minister Netanyahu stated that Israel will suspend attacks on Irans main gas fields. 4. The Israeli Prime Minister stated that attacks on Iran will continue until necessary, as Iran no longer possesses the capability for uranium enrichment or ballistic missile manufacturing. 5. According to Al Jazeera: The Israeli Broadcasting Corporation, citing sources, reported that the joint Israeli-US operation is expected to continue for several more weeks. ④ Other: 1. Saudi Arabias Yanbu port briefly suspended oil loading. 2. Qatars Ras Lafan gas facility was attacked again. 3. Two Kuwaiti oil refineries suspended operations after being attacked. 4. Iraqs Kataib Hezbollah announced a conditional suspension of attacks on the US embassy. 5. Turkish Foreign Minister: Israel is the primary instigator of this round of regional conflict. 6. UAEs Habshan gas facility suspended operations due to missile debris. 7. Joint statement from six countries including the UK and France: prepared to take measures to ensure the security of the Strait of Hormuz. 8. Russian Foreign Ministry: Israels attack on Russian journalists is a serious violation of international law; the Russian Foreign Ministry will summon the Israeli ambassador. 9. Saudi Foreign Minister: Saudi Arabia reserves the right to take military action (against Iran) if necessary. 10. Italian Foreign Minister: Italy will not participate in the war. Our goal is to defend freedom of navigation and maritime trade. 11. US media: Former US Counterterrorism Center Director Joe Kent is under investigation by the FBI for allegedly leaking classified information. 12. Bahrain denies reports from Irans Fars News Agency that its liquefied natural gas (LNG) refinery was targeted in an attack. Bahrain states that it has no LNG refineries.According to The Times of London: British ministers may postpone shipbuilding projects in response to a £10 billion cut in the Ministry of Defence budget.The EU leaders summit statement: The European Council calls on all parties to de-escalate the situation, exercise maximum restraint, protect civilians and civilian infrastructure, and fully comply with international law. It also calls for a halt to the attacks on energy and water facilities.On March 20th, Nvidia CEO Jensen Huang, responding to questions about how Anthropic could have handled its contract negotiations with the Pentagon better, stated that tech industry leaders need to be cautious when discussing artificial intelligence to avoid triggering public panic. Huang said, "We want to remind people of the potential risks of this technology." "Reminders are good, but creating panic is not, because this technology is too important to us." Huang believes the biggest national security risk facing the US in the field of artificial intelligence is that public anger, fear, or paranoia could cause the country to fall behind its competitors in adopting this technology. Anthropic is a major Nvidia customer, and its CEO insisted on including clauses in the contract prohibiting the companys products from being used for surveillance of Americans or for fully autonomous weapons. The Trump administration therefore identified Anthropic as a supply chain risk and began excluding it from various government initiatives.March 20th - According to foreign media reports, following the attack on a large liquefied natural gas (LNG) complex in Qatar, which further exacerbated global fuel supply shortages, an increasing number of buyers and importers eager to secure LNG supplies turned to the United States on Thursday. Sources familiar with the matter revealed that companies seeking to import LNG have directly contacted U.S. fuel sellers. These sellers supplies will be used for existing and under-construction projects. The United States is the worlds largest exporter of LNG and plans to further expand its exports through several planned or under-construction facilities.

Price Analysis: EUR/JPY Symmetrical Triangle Signals Upcoming Consolidation

Daniel Rogers

May 20, 2022 10:08

The EUR/JPY pair is bouncing within a narrow range of 13510-135.44 at the start of the Tokyo session, following a stronger advance from its critical support at 134.00. This week, the cross has showed erratic behavior and has relinquished all of its gains from the first two trading sessions.

 

The creation of a Symmetrical Triangle on an hourly basis suggests a rangebound motion in the following trading sessions. The ascending trendline is drawn from the previous week's low of 132.66, while the descending trendline is drawn from the May 9 high of 138.32. A symmetrical triangle typically results in a decline in volatility, followed by a breakout in the same.

 

The 20-period and 50-period Exponential Moving Averages (EMAs) are overlapping, indicating an impending consolidation.

 

Meanwhile, the Relative Strength Index (RSI) (14) oscillates between 40.00 and 60.00, indicating a lack of direction. Therefore, investors should anticipate a further reduction in volatility.

 

After fluctuating in a tight range, a significant decline below the Symmetrical Triangle at 134.70 will push the asset towards Thursday's bottom at 133.93, followed by last week's low at 132.66.

 

Alternately, the shared currency bulls might propel the asset higher towards Wednesday's high of 136.67 and May 9's high of 138.32 if the Symmetrical Triangle is broken to the upside at 135.5.

Hourly EUR/JPY Chart

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