EURJPY TECHS: Heading North
- RES 4: 147.10 High Nov 9 2022
- RES 3: 146.73 High Dec 15 and a key resistance
- RES 2: 145.80 76.4% retracement of the Oct 21 - Jan 3 bear leg
- RES 1: 145.47 High Feb 28
- PRICE: 145.24 @ 15:55 GMT Mar 1
- SUP 1: 143.57 Low Feb 27
- SUP 2: 142.15 Low Feb 24 and a key support
- SUP 3: 141.52 Low Feb 14
- SUP 4: 140.14 Low Feb 13
EURJPY trend conditions remain bullish and the cross is trading closer to its recent highs. Fresh gains maintain a bullish sequence of higher highs and higher lows, with the cross having cleared 144.19. This is the 61.8% retracement of the Oct 21 - Jan 3 bear leg. The breach opens 145.80, the 76.4% retracement and 146.73, the Dec 15 high. On the downside, a key short-term support has been defined at 142.15, the Feb 24 low.
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EURJPY TECHS: Trading Closer To Its Recent Highs
- RES 4: 144.00 Round number resistance
- RES 3: 143.16 61.8% retracement of the Dec 15 - Jan 3 bear leg
- RES 2: 142.86/94 High Jan 11 / High Dec 28 and key resistance
- RES 1: 142.30 High Jan 25
- PRICE: 141.71 @ 16:21 GMT Jan 30
- SUP 1: 140.47/137.92 Low Jan 23 / Low Jan 19
- SUP 2: 137.39 Low Jan 3 and the bear trigger
- SUP 3: 137.03 Low Aug 29
- SUP 4: 136.02 Low Aug 25
EURJPY is holding on to the bulk of its recent gains following the recovery from 137.92, the Jan 19 low. The 50-day EMA, at 141.74, has been pierced. A clear break of this average would strengthen a bullish condition and expose key resistance at 142.86, the Jan 11 high. For bears, a reversal lower would refocus attention on the bear trigger at 137.39, Jan 3 low. Clearance of this level would resume the downtrend that started in October last year.
PIPELINE: $3.25B IBM 4Pt Launched Late
- Date $MM Issuer (Priced *, Launch #)
- 01/30 $3.25B #IBM $850M 3Y +60, $1B 5Y +85, $750M 10Y +120, $650M 30Y +145
- 01/30 $1B Charter Comm's 8NC3 7.37%a
- 01/30 $850M #Bank of New Zealand 5Y +118
- 01/30 $750M #Synchrony Financial 10Y +375
- 01/30 $500M *Constellation Brands 3NC1 +110
- 01/30 $Benchmark Elevance Health 3NC1 +125a, 10Y +155a, 30Y +180a
- 01/30 $Benchmark Tyco Electronics 3Y +85a
- 01/30 $900M CI (Corp Nacional del Cobre de Chile) 10Y
- 01/30 $Benchmark Pemex investor calls
- Expected Tuesday:
- 01/31 $Benchmark CABEI (Central American Bank for Economic Integration) 3Y SOFR+130a
BOC: New Investor Survey Integrated Into MPR
- Bank of Canada will start publishing a "Market Participants Survey" including one done for the latest rate decision and Monetary Policy Report
- Surveys will be published about 2 weeks after MPR
- "The Bank’s Governing Council is not involved in administering the survey or formulating the questions. This is to limit any risk of the MPS being perceived as a signal of Governing Council’s views."
- Survey has been a pilot project since 2019 and includes investor projections of BOC's policy rate
- See: https://www.bankofcanada.ca/2023/01/staff-analytic...
