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Free AccessMNI China Press Digest Dec 4: PBOC, Small Bank, Trade Standard
MNI: PBOC Drains Net CNY434 Bln Mon; Rates Unchanged
MNI: PBOC Yuan Parity Lower At 7.1011 Monday; -0.85% Y/Y
MNI: China CFETS Yuan Index Down 0.36% In Week of Nov 30
Clears Support
- RES 4: 144.28 High Jun 28 and key resistance
- RES 3: 143.85 High Jun 29
- RES 2: 142.32/60 High Jul 21 / 2.0% 10-dma envelope
- RES 1: 139.76/140.69 20-day EMA / High Jul 22
- PRICE: 136.76 @ 14:32 BST Jul 28
- SUP 1: 136.25 Low May 30
- SUP 2: 135.40 76.4% retracement of the May 12 - Jun 28 climb
- SUP 3: 134.58 Low May 20
- SUP 4: 1.3393 Low May 19
EURJPY has traded sharply lower today and in the process, the cross has breached support at 136.87, the Jul 8 low. Clearance of this level has strengthened bearish conditions and paves the way for weakness towards 136.25, the May 30 low and 135.40, the 76.4% retracement of the May 12 - Jun 28 climb. A move above 142.32, Jul 21 high, is required to reinstate a bullish theme. Initial resistance 139.76, the 20-day EMA.
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