MNI China Daily Summary: Thursday, March 13

MNI BRIEF: China Has Been In Communication With U.S. On Trade

MNI BRIEF: China To Enhance Customs Clearance

MNI INTERVIEW2: Policy Lag Justifies Faster CNB Easing - Holub

MNI BRIEF: China Consumer Satisfaction Up

MNI: PBOC Net Drains CNY68.6 Bln via OMO Thursday

EZ/UK Bond Supply Calendar: SlovGB Auction Monday

US EIA:NAT GAS STORAGE -62 BCF TO 1,698 BCF MAR 07 WK

MNI: US FEB FINAL DEMAND PPI +0.0%, EX FOOD, ENERGY -0.1%

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

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EURJPY TECHS: Corrective Gains Run Further

EURJPY TECHS
Foreign Exchange Technical AnalysisCEEMEAForeign Exchange BulletsBulletAPACJapanMarkets
  • RES 4: 162.70 High Jan 28 
  • RES 3: 162.49 High Jan 29    
  • RES 2: 161.09 50-day EMA
  • RES 1: 160.38 High Feb 12
  • PRICE: 160.07 @ 16:11 GMT Feb 12  
  • SUP 1: 157.90/155.61 Intraday low / Low Feb 10 and the bear trigger 
  • SUP 2: 155.15 Low Sep 16 ‘24
  • SUP 3: 154.42 Low Aug 5 ‘24 and key medium-term support
  • SUP 4: 153.87 Low Dec 14 ‘23  

EURJPY is sharply firmer Wednesday as the cross extends the rebound from Monday’s low. MA studies are in a bear-mode position and this suggests that the latest recovery is likely a correction - however today’s rally shows the correction has legs. Initial resistance at 159.93 has given way, shifting focus to key resistance at 161.09, the 50-day EMA, where a break would highlight a stronger reversal. The bear trigger lies at 155.61, the Feb 10 low.

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  • RES 4: 162.70 High Jan 28 
  • RES 3: 162.49 High Jan 29    
  • RES 2: 161.09 50-day EMA
  • RES 1: 160.38 High Feb 12
  • PRICE: 160.07 @ 16:11 GMT Feb 12  
  • SUP 1: 157.90/155.61 Intraday low / Low Feb 10 and the bear trigger 
  • SUP 2: 155.15 Low Sep 16 ‘24
  • SUP 3: 154.42 Low Aug 5 ‘24 and key medium-term support
  • SUP 4: 153.87 Low Dec 14 ‘23  

EURJPY is sharply firmer Wednesday as the cross extends the rebound from Monday’s low. MA studies are in a bear-mode position and this suggests that the latest recovery is likely a correction - however today’s rally shows the correction has legs. Initial resistance at 159.93 has given way, shifting focus to key resistance at 161.09, the 50-day EMA, where a break would highlight a stronger reversal. The bear trigger lies at 155.61, the Feb 10 low.