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• RES 4: 165.43 High Nov 8        
• RES 3: 164.90 High Dec 30 ‘24 and a key medium-term resistance   
• RES 2: 164.55 High Jan 7
• RES 1: 161.39/164.19 20-day EMA / High Mar 18 and the bull trigger 
• PRICE: 159.87 @ 07:51 GMT Apr 7 
• SUP 1: 158.30 Intraday low   
• SUP 2: 157.02 76.4% retracement of the Feb 28 - Mar 18 bull cycle  
• SUP 3: 155.60 Low Low Mar 4  
• SUP 4: 154.80 Low Low Feb 28  

EURJPY is trading in a volatile manner. The latest pullback still appears corrective, however, following recent weakness, a deeper retracement is likely. The 61.8% retracement point of the Feb 28 - Mar 18 bull cycle, at 158.39, has been pierced. A clear break of this level would open 157.02, the 76.4% retracement level. Initial resistance to watch is 161.39, the 20-day EMA. Key resistance is 164.19, the Mar 18 high.

China's Central Huijin Fund has confirmed that it has added to its equity ETF holdings and vows to increase those holdings, looking to promote smooth operation in markets. No immediate reaction in benchmark Chinese proxies traded in Hong Kong, with the recovery from loves tepid at best.

MNI (London) - Onshore reports point to the state-owned Chinese sovereign wealth fund, China Central Huijin, "working to stabilise the market", citing anonymous sources.

• ETF volume ha spiked, with BBG noting that volumes equal those seen during the worst day of the early '24 equity sell off.
• ETFs are a preferred vehicle for state intervention.
• The Hang Seng & Hang Seng China Enterprises indices are off lows, but still 12% lower on the day.