MNI China Daily Summary: Friday, October 25

MNI BRIEF: China's Next NPC Meeting Scheduled For Nov 4 to 8

MNI: PBOC Net Injects CNY184.2 Bln via OMO Friday

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CHINA PBOC CONDUCTS CNY292.6 BLN VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1090 FRI VS 7.1286

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MNI: FRANCE OCT CONSUMER SENTIMENT 94

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CANADA: Politics Week: Trudeau Faces More Pressure To Resign

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EURJPY TECHS: Monitoring Resistance

EURJPY TECHS
Foreign Exchange Technical AnalysisAPACJapanCEEMEABulletGlobalForeign Exchange BulletsRegionMarkets
  • RES 4: 166.53 High Jul 31   
  • RES 3: 165.00 Round number resistance  
  • RES 2: 163.89 High Aug 15 and a reversal trigger   
  • RES 1: 163.61 High Oct 10
  • PRICE: 162.19 @ 06:58 BST Oct 21
  • SUP 1: 161.87 20-day EMA   
  • SUP 2: 158.11/155.15 Low Sep 30 / Low Sep 16
  • SUP 3: 154.42 Low Aug 5 and the bear trigger
  • SUP 4: 153.87 Low Dec 14 ‘23

EURJPY is unchanged and remains closer to its latest highs. A medium-term bearish trend condition is intact and a reversal lower would open 158.11, the Sep 30 low, and the first important support. Note that the cross continues to trade close to two key resistance points - 163.49, the Sep 27 high (pierced) and 163.89, the Aug 15 high. Clearance of both levels would highlight a potential reversal.

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  • RES 4: 166.53 High Jul 31   
  • RES 3: 165.00 Round number resistance  
  • RES 2: 163.89 High Aug 15 and a reversal trigger   
  • RES 1: 163.61 High Oct 10
  • PRICE: 162.19 @ 06:58 BST Oct 21
  • SUP 1: 161.87 20-day EMA   
  • SUP 2: 158.11/155.15 Low Sep 30 / Low Sep 16
  • SUP 3: 154.42 Low Aug 5 and the bear trigger
  • SUP 4: 153.87 Low Dec 14 ‘23

EURJPY is unchanged and remains closer to its latest highs. A medium-term bearish trend condition is intact and a reversal lower would open 158.11, the Sep 30 low, and the first important support. Note that the cross continues to trade close to two key resistance points - 163.49, the Sep 27 high (pierced) and 163.89, the Aug 15 high. Clearance of both levels would highlight a potential reversal.