MNI China Daily Summary: Friday, January 3

MNI China Press Digest Jan 3:RRR Cut Mooted, Yuan, Consumption

MNI BRIEF: Beijing Boosts Consumer Trade-ins To Cellphones

MNI: PBOC Net Drains CNY88.5 Bln via OMO Fri

MNI: PBOC Sets Yuan Parity Lower At 7.1878 Fri; -2.29% Y/Y

MNI China Daily Summary: Thursday, January 2

US EIA:NAT GAS STORAGE -116 BCF TO 3,413 BCF JAN 03 WK

MNI: US ISM DEC MANUF PURCHASING MANAGERS INDEX 49.3

MNI: UK NOV M4 MONEY SUPPLY +0% M/M, +2.9% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EURJPY TECHS: Pullback Appears Corrective

EURJPY TECHS
Foreign Exchange Technical AnalysisCEEMEAForeign Exchange BulletsBulletAPACJapanMarkets
  • RES 4: 166.69 High Oct 31 
  • RES 3: 166.31 2.0% 10-dma envelope  
  • RES 2: 166.10 High Nov 6
  • RES 1: 165.04 High Nov 15 and a key short-term resistance
  • PRICE: 163.08 @ 16:11 GMT Dec 30
  • SUP 1: 162.82 Low Dec 30   
  • SUP 2: 162.31/159.82 20-day EMA / Low Dec 18
  • SUP 3: 158.67 Low Dec 11
  • SUP 4: 157.87 Low Dec 09

EURJPY has pulled back from Monday’s high, but a bullish short-term  condition remains intact for now. Initial firm support lies at 162.31, the 20-day EMA. The cross has recently breached all the relevant Fibonacci retracement points of the bear leg between Oct 31 - Dec 3. A resumption of gains would open 165.04, the Nov 15 high. Clearance of this hurdle would open 166.69, the Oct 31 high and the next major resistance.

130 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • RES 4: 166.69 High Oct 31 
  • RES 3: 166.31 2.0% 10-dma envelope  
  • RES 2: 166.10 High Nov 6
  • RES 1: 165.04 High Nov 15 and a key short-term resistance
  • PRICE: 163.08 @ 16:11 GMT Dec 30
  • SUP 1: 162.82 Low Dec 30   
  • SUP 2: 162.31/159.82 20-day EMA / Low Dec 18
  • SUP 3: 158.67 Low Dec 11
  • SUP 4: 157.87 Low Dec 09

EURJPY has pulled back from Monday’s high, but a bullish short-term  condition remains intact for now. Initial firm support lies at 162.31, the 20-day EMA. The cross has recently breached all the relevant Fibonacci retracement points of the bear leg between Oct 31 - Dec 3. A resumption of gains would open 165.04, the Nov 15 high. Clearance of this hurdle would open 166.69, the Oct 31 high and the next major resistance.