AMERICAS OIL: Hedge Fund Managers Flip to Net Bearish on Nymex Diesel: Bloomberg

• RES 4: 158.87 High Jan 10 and a bull trigger   
• RES 3: 156.75 High Jan 23 
• RES 2: 155.89 High Feb 3 
• RES 1: 154.24/80 50-day EMA and a pivot resistance / High Feb 12       
• PRICE: 151.51 @ 16:11 GMT Feb 19
• SUP 1: 150.93 Low Feb 07 and a bear trigger 
• SUP 2: 149.69 Low Dec 9 
• SUP 3: 148.65 Low Dec 3 ‘24 and a key support 
• SUP 4: 148.01 Low Oct 9 ‘24     

USDJPY continues to trade below the Feb 12 high. Recent weakness  highlights that - for now - a key resistance around the 50-day EMA, at 154.24, remains intact. A clear break of the EMA is required to confirm a stronger bullish reversal. This would open 155.89, the Feb 3 high. Key support and the bear trigger is unchanged at 150.93, the Feb 7 low. Clearance of this level would resume the bear cycle that started on Jan 10.       

• FED MINUTES: WANT FURTHER DISINFLATION BEFORE NEXT CUT
• FED: CAN TAKE CAREFUL APPROACH ON CUTS GIVEN UNCERTAINTY
• FED SAW INCREASED UPSIDE RISKS TO INFLATION IN JAN MEET
• 'VAST MAJORITY' OF FOMC STILL BELIEVES POLICY RESTRICTIVE
• VARIOUS OFFICIALS-CAN SLOW OR PAUSE QT DUE TO DEBT TALKS
• TRADE, IMMIGRATION COULD HINDER DISINFLATION PROCESS-FED

• RES 4: 0.8474 High Jan 20 and a key resistance    
• RES 3: 0.8420 76.4% retracement of the Jan 20 - Feb 3 bear leg  
• RES 2: 0.8388 61.8% retracement of the Jan 20 - Feb 3 bear leg  
• RES 1: 0.8347/78 50-day EMA / High Jan 6 and pivot resistance   
• PRICE: 0.8278 @ 16:09 GMT Feb 19
• SUP 1: 0.8266/8248 Low Feb 19 / 3 and bear trigger
• SUP 2: 0.8223 Low Dec 19 and a key support  
• SUP 3: 0.8203 Low Mar 7 ‘22 and a lowest point of a multi-year range   
• SUP 4: 0.8163 123.6% retracement of the Dec 19 - Jan 20 bull leg 

EURGBP traded lower again overnight but - for now - remains inside a range. The early February bounce still appears to have undermined a recent bearish threat. Attention is on 0.8378, the Jan 6 high and a key short-term pivot resistance. Clearance of it would strengthen a bullish condition and signal scope for a stronger recovery. For bears, a resumption of weakness would once again refocus attention on 0.8248, the Feb 3 low and the bear trigger.