EURJPY TECHS: Approaching Key Support
Feb-07 08:01
- RES 4: 162.70 High Jan 28
- RES 3: 161.60 50-day EMA
- RES 2: 160.93 20-day EMA
- RES 1: 158.86 High Feb 6
- PRICE: 157.80 @ 08:00 GMT Feb 7
- SUP 1: 156.76 Intraday low
- SUP 2: 156.18 Low Dec 3 and a key support
- SUP 3: 155.15 Low Sep 16 ‘24
- SUP 4: 154.42 Low Aug 5 ‘24 and key medium-term support
A bear cycle in EURJPY remains present and this week’s move down reinforces current conditions. The cross has cleared 158.24, the 76.4% retracement of the Dec 3 - 30 bull cycle, has been pierced. The breach paves the way for a move towards 156.18, the Dec 3 low and a key support. Initial firm resistance to watch, and a pivot level, is 161.60, the 50-day EMA. The short-term trend is oversold, gains would allow this condition to unwind.
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STIR: SFRZ6/U7 Lifted
Jan-08 07:57
SFRZ6/U7 paper paid 6.5 on ~6.3K, initially taken bid over with a further ~3.2K trading since. Market left 6.0/6.5 last.
GILTS: Opening calls
Jan-08 07:56
Gilt Opening calls, 91.43/91.45.
EQUITIES: EU Cash opening calls
Jan-08 07:54
Estox 50: -0.08%, Dax: -0.13%, CAC: -0.23%, FTSE +0.12%, SMI +0.27%.
