EURJPY TECHS: Bullish Trend Condition
- RES 4: 149.46 1.382 proj of the May 12 - Jun 28 - Aug 2 price swing
- RES 3: 148.88 High Dec 9 2014
- RES 2: 148.40/45 High Oct 21 and the bull trigger / High Dec 15 2014
- RES 1: 147.72 High Oct 26
- PRICE: 146.88 @ 15:35 BST Oct 28
- SUP 1: 144.87 / 143.80 20-day EMA / Low Oct 24 and key support
- SUP 2: 142.72 50-day EMA
- SUP 3: 141.78 Low Oct 13
- SUP 4: 140.90 Low Oct 10
EURJPY remains in an uptrend, with Thursday’s move lower erased ahead of the Friday close. A key short-term support has been defined at 143.80, the Oct 24 low, where a break is required to suggest scope for a deeper pullback. A continuation higher would open 148.40, the Oct 21 high. This is the bull trigger and a break would confirm a resumption of the uptrend. Moving average studies continue to highlight a bullish backdrop.
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EURJPY TECHS: Corrective Cycle
- RES 4: 146.23 2.236 proj of the Aug 2- 10 - 16 price swing
- RES 3: 145.64 High Sep 12 and the bull trigger
- RES 2: 144.04 High Sep 20
- RES 1: 140.27/140.87 High Sep 23 / 20-day EMA
- PRICE: 139.28 @ 16:45 BST Sep 28
- SUP 1: 137.40 Low Sep 26
- SUP 2: 136.02 Low Aug 25
- SUP 3: 135.52 Low Aug 24
- SUP 4: 134.95 Low Aug 16 and a key support
A sharp reversal lower in EURJPY last week resulted in a break below the 50-day EMA and the cross continues to trade closer to its recent lows. Recent weakness is considered corrective, despite a deep retracement and technical trend signals continue to highlight a bull cycle. The daily close below the 50-day EMA has strengthened a bearish threat. Initial firm resistance to watch is 140.87, the 20-day EMA.
US TSY FUTURES: BLOCK, 10Y Buy
Contributing to late session rally to new highs:
- +5,000 TYZ2 112-25, buy through 112-24.5 post-time offer at 1452:21ET, 112-27.5 last +1-31
PIPELINE: $500M JBIC 5Y SOFR Sole Issuance
Continued market volatility keeps issuer base sidelined. May see surge Thursday if markets remain calm following this morning's BoE surprise bond buying commitment.
- Date $MM Issuer (Priced *, Launch #)
- 09/28 $500M *JBIC WNG 5Y Green SOFR+71
- $1.3B Priced Tuesday
- 09/27 $800M #Atmos Energy$300M 10Y +152, $500M 30Y +195
- 09/27 $500M *IADB 5Y SOFR+35
- 09/27 $Benchmark Komatsu Finance investor calls
- TBA: Saudi wealth fund looks Green bond sale debut
