EURJPY TECHS: Bullish Theme
- RES 4: 180.75 Top of a bull channel drawn from the Feb 28 low
- RES 3: 180.00 Psychological round number
- RES 2: 178.94 1.236 proj of the Jul 31 - Sep 29 - Oct 2 price swing
- RES 1: 177.94 High Oct 10 and the bull trigger
- PRICE: 177.71 @ 16:27 BST Oct 24
- SUP 1: 175.60 20-day EMA
- SUP 2: 174.82 Low Oct 17
- SUP 3: 173.92 Low Oct 6 and a gap high on the daily chart
- SUP 4: 173.24 High Oct 3 and a gap low on the daily chart
The trend structure in EURJPY is unchanged, it remains bullish and the latest recovery reinforces bullish conditions. Note that moving average studies continue to highlight a dominant uptrend. A breach of 177.94, the Oct 9 high and the bull trigger would confirm a resumption of the uptrend and open 178.94, a Fibonacci projection. First key support to watch lies at 175.60, the 20-day EMA.
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US TSY OPTIONS: Late Oct'25 10Y Put Buy
+15,000 TYV5 113 puts, 23 ref 112-20.5
EURUSD TECHS: Corrective Pullback
- RES 4: 1.2063 2.236 proj of the Feb 28 - Mar 18 - 247 price swing
- RES 3: 1.2000 Round number resistance
- RES 2: 1.1923 2.00 proj of the Feb 28 - Mar 18 - 247 price swing
- RES 1: 1.1919 High Sep 17 and key short-term resistance
- PRICE: 1.1738 @ 19:46 BST Sep 24
- SUP 1: 1.1726/1678 Low Sep 22 / 50-day EMA
- SUP 2: 1.1574 Low Aug 27
- SUP 3: 1.1528 Low Aug 5
- SUP 4: 1.1392 Low Aug 1 and bear trigger.
The trend theme in EURUSD is unchanged, it remains bullish and the recent pullback appears corrective. Resistance at 1.1743, the Aug 22 high, has recently been cleared, reinforcing a bull cycle. Last week's gains resulted in a climb above 1.1829 the Jul 01 high and a bull trigger. Clearance of this hurdle opens 1.1923, a Fibonacci projection. The pair traded lower Wednesday, support to watch is 1.1678. the 50-day EMA.
US TSYS: Extending Lows on Chicago Fed Goolsbee Comments
- Treasuries extend late session lows after FT cited Chicago Fed Pres Goolsbee saying he is
- "UNCOMFORTABLE OVERLY FRONTLOADING RATE CUTS" while we "STILL HAVE MOSTLY STEADY, SOLID JOBS MARKET...AT THE SAME TIME, INFLATION IS GOING THE WRONG WAY"
- Currently, the Dec'25 10Y trades -7 at 112-21 (yld 4.1447% +.0385) vs. 112-20 low - nearing technical support at 112-205/112-155 (Low Sep 22 / High Aug 5 and 14). Resistance above at 113-12/29 High Sep 18 / High Sep 11 and the bull trigger.
- Curves mildly steeper: 2s10s +2.868 at 54.666, 5s30s +.195 at 105.129.
- US$ index near highs, Bbg's BBDXY +6.56 at 1202.23.
