MNI China Press Digest July 18: PBOC, Beijing, Arctic Shipping

MNI: PBOC Net Injects CNY47 Bln Via OMO Thurs; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1285 Thurs; -1.29% Y/Y

CHINA PBOC CONDUCTS CNY49 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1285 THU VS 7.1318

MNI BRIEF: China Equip't Renewal Policy Includes Foreign Firms

Australia Jun Unemployment Rate 4.0%

Japan Jun Exports +5.4% Y/Y; Imports +3.2% Y/Y

MNI:AUSTRALIA JUN UNEMPLOYMENT RATE +4.1%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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Focus Is On The Bull Trigger

EURJPY TECHS
  • RES 4: 132.36 1.382 proj of the Jun - Sep - Oct 2020 price swing
  • RES 3: 131.22 1.236 proj of the Jun - Sep - Oct 2020 price swing
  • RES 2: 130.67 High Mar 18 and the bull trigger
  • RES 1: 130.56 High Apr 6
  • PRICE: 130.18 @ 17:30 GMT Apr 6
  • SUP 1: 129.45/13 20-day EMA / Low Mar 30
  • SUP 2: 128.57/56 50-day EMA / Trendline drawn off Oct 30, 2020 low
  • SUP 3: 127.50 Low Feb 22
  • SUP 4: 127.31 Low Feb 17

EURJPY remains above 128.29, Mar 24 low and is holding onto recent gains. The recent recovery from128.29 leaves the 50-day EMA at 128.57, and trendline support at 128.56 intact. The trendline is drawn off the Oct 30, 2020 low. A break of this support zone is required to suggest scope for a deeper sell-off and signal a reversal of the current uptrend. Attention though is on 130.67, Mar 18 high and the bull trigger. A break would resume the uptrend.

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