NORWAY: Tentative Evidence Of Recovery In Manufacturing IP

• MNI: FRANCE DEC INDUSTRIAL PRODUCTION -0.4% M/M, -1.7% Y/Y
• FRANCE DEC MANUFACTURING OUTPUT -0.7% M/M, -2.6% Y/Y

• RES 4: 6178.75 High Dec 6 and key resistance    
• RES 3: 6162.25 High Jan 24 
• RES 2: 6147.75 High Jan 31 
• RES 1: 6069.00 High Feb 3                
• PRICE: 6031.75 @ 05:02 GMT Feb 5 
• SUP 1: 5935.50 Low Feb 3           
• SUP 2: 5892.37 76.4% retracement of the Aug 5 - Dec 6 bull leg
• SUP 3: 5842.50 Low Jan 14 
• SUP 4: 5809.00 Low Jan 13 and a key resistance 

Monday’s initial sell-off in the S&P E-Minis contract and  breach of support at 5948.00, the Jan 27 low, strengthens a bearish threat and cancels - for now - a recent bullish theme. An extension down would open 5892.37, a Fibonacci retracement point. Initial resistance is at 6069.00, Tuesday’s intraday high. Gains are considered corrective, however, a stronger rally would expose key resistance at 6178.75, the Dec 6 high.

• The Dollar sees a flat session overall against G10, but there's a couple of standout Currencies, the Yen is up another 0.74%, and the Kiwi continues to recover from its worst printed levels since 2022, now has now bounced 2.77% in the past 2 sessions.
• The Yen stands out once again the fall in Yield combined with a Wage beat in Japan overnight sees the Currency up 0.74% into the European session.
• The next immediate support in USDJPY was seen at 153.16, so far holding, although did print a 153.10 low overnight and we are testing that area once again now.
• A clear break through the 153.00 figure will open to 152.55 61.8% retracement of the Dec 3 - Jan 10 bull leg.