MNI: UK NOV FINAL MANUF PMI 48.0 (FLASH 48.6); OCT 49.9

MNI: EUROZONE NOV FINAL MANUF PMI 45.2 (FLASH 45.2); OCT 46.0

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MNI: EUROZONE OCT UNEMPLOYMENT RATE 6.3%

MNI: FRANCE NOV FINAL MANUF PMI 43.1 (FLASH 43.2); OCT 44.5

MNI: ITALY NOV MANUF PMI 44.5 (FCST 46.0); OCT 46.9

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Death Cross Adding Pressure

EURJPY TECHS
  • RES 4: 131.05/09 1.0% 10-dma envelope / High Jul 13
  • RES 3: 130.75 High Sep 3 and the bull trigger
  • RES 2: 130.20 High Sep 14 high
  • RES 1: 129.67 High Sep 17
  • PRICE: 128.43 @ 16:42 BST Sep 20
  • SUP 1: 128.14 Low Sep 20
  • SUP 2: 128.16 Low Aug 23
  • SUP 3: 127.94 Low Aug 19 and the bear trigger
  • SUP 4: 127.88 50.0% retracement of the Oct '20 - Jan rally

EURJPY extended losses Monday, with the pace of the sell-off accelerating to put the cross within range of the key bear trigger at the Aug 19 low of 127.94. The formation of a death cross in the DMA space may add further pressure, with the Monday low also piercing the 1.0% 10-dma envelope. The sell-off saw support at 128.60, the 76.4% retracement, give way, raising the risk of a move back toward the 2021 lows of 125.09. Initial firm resistance is unchanged at 130.20, Sep 14 high. Key resistance is at 130.75, Sep 3 high.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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