MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

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MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Bulls Remain In The Driver’s Seat

USDJPY TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 156.47 2.00 proj of the Feb 1 - 13 - Mar 8 price swing
  • RES 3: 155.29 1.764 proj of the Feb 1 - 13 - Mar 8 price swing
  • RES 2: 155.00 Round number resistance
  • RES 1: 154.77 High Apr 16
  • PRICE: 154.57 @ 16:02 BST Apr 16
  • SUP 1: 152.59 Low Apr 12
  • SUP 2: 151.84/150.41 20- and 50-day EMA values
  • SUP 3: 149.03 Low Mar 19
  • SUP 4: 147.44 Low Mar 14

The USDJPY bull cycle remains in play and Monday’s extension reinforces current conditions. The break higher last week confirmed a resumption of the primary uptrend and maintains the bullish price sequence of higher highs and higher lows. Intraday weakness in the pair was short-lived, doing little to deter current technical conditions. Moving average studies are in a bull mode position too. Sights are on the 155.00 handle next. Initial firm support lies at 151.84, the 20-day EMA.

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  • RES 4: 156.47 2.00 proj of the Feb 1 - 13 - Mar 8 price swing
  • RES 3: 155.29 1.764 proj of the Feb 1 - 13 - Mar 8 price swing
  • RES 2: 155.00 Round number resistance
  • RES 1: 154.77 High Apr 16
  • PRICE: 154.57 @ 16:02 BST Apr 16
  • SUP 1: 152.59 Low Apr 12
  • SUP 2: 151.84/150.41 20- and 50-day EMA values
  • SUP 3: 149.03 Low Mar 19
  • SUP 4: 147.44 Low Mar 14

The USDJPY bull cycle remains in play and Monday’s extension reinforces current conditions. The break higher last week confirmed a resumption of the primary uptrend and maintains the bullish price sequence of higher highs and higher lows. Intraday weakness in the pair was short-lived, doing little to deter current technical conditions. Moving average studies are in a bull mode position too. Sights are on the 155.00 handle next. Initial firm support lies at 151.84, the 20-day EMA.