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CROSS ASSET

Equities spill over into Bond and FX

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EURO-YEN TECHS
EURO-YEN TECHS: Corrective Bounce Extends
*RES 4: 117.78 High Apr 30 and bull trigger
*RES 3: 117.31 High May 4
*RES 2: 116.57 High May 5
*RES 1: 116.44 20-day EMA
*PRICE: 116.04 @ 10:39 BST May 11
*SUP 1: 115.03 Low May 8
*SUP 2: 114.43 Low May 6 and bear trigger
*SUP 3: 113.87 1382 projection of the Feb 20 - Mar 9 decline from Mar 25
*SUP 4: 113.73 Low Nov 9, 2016
EURJPY managed to find support at 114.43, May 6 low and continues to push
higher. For now, these gains are considered corrective with the broader outlook
still bearish. The cross last week traded at levels last seen in Nov 2016 and
also cleared an important support at 115.45, Apr 29 low to confirm a resumption
of the primary downtrend. Next resistance is at 116.57, May 5 high. A break of
this level is required to instead suggest scope for stronger intraday theme.