EURJPY TECHS: Short-Term Reversal
Jan-26 20:00
- RES 4: 188.65 3.236 proj of the Oct 17 - Oct 30 - Nov 5 price swing
- RES 3: 187.67 Bull channel top drawn from the Feb 28 ‘25 low
- RES 2: 186.87 High Jan 23 and the bull trigger
- RES 1: 184.16 20-day EMA
- PRICE: 183.07 @ 16:08 GMT Jan 26
- SUP 1: 181.79 Low Jan 26
- SUP 2: 181.57 Low Dec 17
- SUP 3: 180.50 Low Dec 8
- SUP 4: 179.54 Base of a bull channel drawn from the Feb 28 ‘25 low
A reversal off Friday’s high in EURJPY highlights a short-term top. The cross has breached the 20-day EMA and sights are on support around the 50-day EMA, at 182.53 (pierced). A clear breach of the 50-day average would signal a stronger reversal and open 181.57, the Dec 17 low. For bulls, a resumption of gains would refocus attention on Friday’s high and bull trigger, at 186.87. A break of this hurdle would reinstate the recent uptrend.
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US TSYS: Curves Twist Steeper, Quiet Return from Christmas Holiday
Dec-26 20:17
- Treasuries look to finish mixed Friday, curves twisting steeper with 2s-10s holding modestly higher vs. weaker Bonds after the bell.
- Currently, the TYH6 contract trades +2.5 at 112-19 vs. 112-23 early session high, on light post Christmas holiday volume of just over 650,000. 10Y yld near steady at 4.1336%. Key short-term resistance into 112-31, the Dec 18 high.
- Projected rate cut pricing gained vs. late Wednesday levels (*): Jan'26 at -5bp (-3.3bp), Mar'26 at -15.2bp (-12.3bp), Apr'26 at -21bp (-18.1bp), Jun'26 at -35.2bp (-31.1bp).
- US$ index near midrange after bouncing off midmorning lows, Bbg index BBDXY +0.21 at 1200.86
- Mining shares continued to buoy the Materials sector after Gold climbing to new record highs early Friday (4,549.92), trading desks citing an uptick in geopolitical tensions after Pres Trump launched attacks on Isis elements in Nigeria.
- Look Ahead: Monday data sees Pending Home Sales MoM (1000ET), Dallas Fed Mfg Activity (1030). COMC minutes for the December meeting to be released at 1400ET Tuesday.
US STOCKS: Late Equities Roundup: Miners Outperform as Gold Hits Record High
Dec-26 19:58
- Stocks hold near steady (SPX Eminis & Nasdaq) to weaker for the DJIA late Friday. Currently, the DJIA trades down 81.36 points (-0.17%) at 48652.31, S&P E-Mini Futures down 4.5 points (-0.06%) at 6978.5, Nasdaq up 16.4 points (0.1%) at 23629.91.
- Materials, Information Technology and Health Care sector shares led advances in late trade. Miners continued to buoy the Materials sector after Gold climbing to new record highs early Friday (4,549.92), trading desks citing an uptick in geopolitical tensions after Pres Trump launched attacks on Isis elements in Nigeria.
- Freeport-McMoRan +1.77%, Smurfit WestRock +1.14%, Newmont +0.78% and LyondellBasell Industries +0.72%.
- NVIDIA +1.88%, Crowdstrike Holdings +0.97%, Lam Research +0.94% and Dell Technologies +0.85%.
- Elevance Health +1.21%, Viatris +0.78%, UnitedHealth Group +0.71% and Baxter International +0.65%.
- Conversely, Energy sector and Utilities/Industrials shares led declines in the second half:
- Devon Energy -2.04%, APA Corp -1.64%, Diamondback Energy -1.23% and Occidental Petroleum -1.20%.
- Edison International -1.31%, Constellation Energy -1.29%, American Water Works -0.69% and Alliant Energy -0.61%.
- Huntington Ingalls Industries -1.18%, General Dynamics -1.08%, Axon Enterprise -1.07% and Northrop Grumman -1.06%.
US TSY OPTIONS: Apr'26 10Y Vol Sale
Dec-26 19:26
- -4,500 TYJ6 112/113 strangles, 134
