MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

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CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

US NFIB NOV SMALL BUSINESS INDEX 101.7

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Corrective Cycle Still In Play

EURJPY TECHS
  • RES 4: 146.74 High Dec 30, 2014
  • RES 3: 145.00/58 Round number resistance / High Dec 31 2014
  • RES 2: 144.58 0.764 proj of Mar 7 - 28 - Apr 5 swing
  • RES 1: 142.86/144.28 High Jun 30/28 and the bull trigger
  • PRICE: 141.49 @ 15:57 BST Jul 4
  • SUP 1: 139.79 Low Jul 1
  • SUP 2: 139.30 50-day EMA
  • SUP 3: 137.85 Low Jun 16 and key support
  • SUP 4: 136.25 Low May 30

EURJPY traded lower last week following a reversal from 144.28, the Jun 28 high. Friday's weakness resulted in a clear break of the 20-day EMA. This has strengthened short-term bearish conditions and signals scope for a move towards the 50-day EMA, at 139.30. The average represents an important short-term support. On the upside, the bull trigger is 144.28 where a break is required to confirm a resumption of the uptrend.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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