USDJPY TECHS: Holding On To This Week’s Gains
- RES 4: 160.17 High Apr 29 and the bull trigger
- RES 3: 158.12 76.4% retracement of the Apr 29 - May 3 sell-off
- RES 2: 157.99 High May 1
- RES 1: 157.20 High May 23
- PRICE: 157.09 @ 07:06 BST May 24
- SUP 1: 155.56/153.91 20- and 50-day EMA values
- SUP 2: 152.97 Trendline support drawn from the Dec 28 low
- SUP 3: 151.86 Low May 3
- SUP 4: 150.81 Low Apr 5
USDJPY is holding on to this week’s gains. The pair has breached resistance at 156.74, the May 14 high and 157.00, 61.8% of the Apr 29 - May 3 sell-off. A continuation higher would open 157.99, the May 1 high. For bears, a reversal lower would refocus attention on 153.91, the 50-day EMA, and 152.97, trendline support drawn from the Dec 28 low. Clearance of these two price points would strengthen a bearish threat.
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EQUITIES: Huge late Block in Options
- SX7E (21st June) 4000/3950ps traded 0.3 and 0.5 in 125k.
- SX5E (21st June) 4300/4250ps traded 0.5, 0.7 and 1.1 in 100k.
- SX7E (21st June) 145c, traded 2.40 in 55k.
EQUITY TECHS: E-MINI S&P TECHS: (M4) Approaching Resistance
- RES 4: 5285.00/5333.50 High Apr 10 / 1 and the bull trigger
- RES 3: 5213.25 High Apr 15
- RES 2: 5148.79 20-day EMA
- RES 1: 5136.32 50-day EMA
- PRICE: 5127.50 @ 06:54 BST Apr 24
- SUP 1: 4963.50 Low Apr 19
- SUP 2: 4907.57 50.0% retracement of the Oct 27 ‘23 - Apr 1 bull leg
- SUP 3: 4863.75 Low Jan 19
- SUP 4: 4799.50 Low Jan 17
The short-term trend condition in S&P E-Minis remains bearish and the latest recovery appears - for now - to be a correction. Last Friday’s bearish extension reinforced current short-term conditions. The contract has recently cleared 50-day EMA, signalling scope for a continuation lower. Sights are on 4907.57 next, a Fibonacci retracement. Firm resistance is 5153.25, the 20-day EMA. A clear break of the average would signal a possible reversal.
MNI: MNI CHINA LIQUIDITY INDEX: CONDITIONS EASE IN APR
- MNI CHINA LIQUIDITY INDEX: CONDITIONS EASE IN APR
- MNI APR CHINA LIQUIDITY CONDITION INDEX 26.2 VS MAR 33.3
- MNI: CLI APR CURRENT ECON CONDITION INDEX 57.1 VS MAR 54.8
