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Post-LIBOR Settle Update: Dec Step-Down Steady


Extending higher


SONIA FIX - 15/11/22


US FIX - 15/11/22

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Pullback Considered Corrective

  • RES 4: 134.40 2.382 proj of the Sep 22 - 29 - Oct 6 price swing
  • RES 3: 134.13 High Jun 1 and a key resistance
  • RES 2: 133.76 High Jun 10
  • RES 1: 133.48 High Oct 20
  • PRICE: 132.31 @ 06:39 BST Oct 27
  • SUP 1: 131.81/131.37 Low Oct 15 / 20-day EMA
  • SUP 2: 130.75 Sep 3 high
  • SUP 3: 130.50 50-day EMA
  • SUP 4: 129.28 Low Oct 11

EURJPY is off recent highs. Recent weakness is still considered corrective. And last week's climb confirmed an extension of the upleg from Oct 6. The cross has also recently cleared 130.75, the Sep 3 high and a bull trigger strengthening bullish conditions. The focus is on 133.76 next, Jun 10 high and key resistance at 134.13, Jun 1 high. Initial support is at 131.81, Oct 15 low. The 20-day EMA, as support, intersects at 131.37.

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