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EQUITIES

Small bid in Estoxx emerging

SOUTH AFRICA

SA PPI Data Due 1030BST

FRANCE DATA

FR Business Climate At Highest Since Apr 2018

Bearish Theme Remains Intact

DOLLAR-YEN TECHS
  • RES 4: 106.95 High Sep 28
  • RES 3: 106.41 Channel resistance drawn off Mar 24 high
  • RES 2: 106.11/38 High Oct 7 and the bull trigger / High Sep 8
  • RES 1: 105.73/75 50-dma / High Oct 20
  • PRICE: 105.30 @ 06:19 BST Oct 21
  • SUP 1: 105.04 Low Oct 14
  • SUP 2: 104.94 Low Oct 2 and key near-term support
  • SUP 3: 104.41 Low Sep 22
  • SUP 4: 104.00 Low Sep 21 and the bear trigger

USDJPY is still trading above recent lows however despite this, the pair continues to display a softer tone. Intraday momentum studies still point south but to strengthen a bearish theme, price needs to trade below 104.94, Oct 2 low. This would open 104.00, Sep 21 low. The bull trigger is at 106.11, Oct 7 high where a break would instead resume bullish pressure. Initial resistance is at 105.73, the 50-dma.