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GBPUSD TECHS

Bullish Price Sequence Intact

EURUSD TECHS

Trend Outlook Remains Bullish

EUROSTOXX50 TECHS

(H2) Remains Above Key S/T Support

BTP TECHS

(H2) Gains Considered Corrective

GILT TECHS

(H2) Bearish Trend Conditions Intact

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The yen went offered on Monday, owing to a moderation in broader concern over the Omicron coronavirus variant and a 50bp reduction to the RRR delivered by China's central bank. Risk-on impetus pushed USD/JPY higher but the prior trading day's extremes remained intact.

  • The rate last sits at Y113.44, a touch lower on the day. Bears look for losses past Nov 30 low of Y112.53 towards Sep 30 high of Y112.08, a recent breakout level. Bulls eye Nov 24 high of Y115.52 for initial resistance.
  • Japan's salaries rose 0.2% Y/Y in September, missing median estimate of 0.4%. Meanwhile, household spending fell 0.6% Y/Y.
  • Japanese data releases pick up on Wednesday, with final GDP, BoP current account balance & Eco Watchers Survey due.