US TSYS: Tsys Hug Lows/Stable as Crude Rebounds on Continued Geo-Pol Risk

• RES 4: 188.93 Bull channel top drawn from the Feb 28 ‘25 low
• RES 3: 187.71 3.000 proj of the Oct 17 - Oct 30 - Nov 5 price swing
• RES 2: 186.87 High Jan 23 and the bull trigger 
• RES 1: 184.29/186.36 20-day EMA / High Feb 9
• PRICE: 181.92 @ 16:50 GMT Feb 11
• SUP 1: 181.79/56 Low Jan 26 and a keyS/T support / Intraday low
• SUP 2: 181.57 Low Dec 17
• SUP 3: 180.80 Base of a bull channel drawn from the Feb 28 ‘25 low
• SUP 4: 179.77 Low Nov 21  

The sharp sell-off in EURJPY from Monday’s high has resulted in a break of the 20- and 50-day EMAs. Today’s extension has seen the cross pierce key short-term support at 181.79, the Jan 26 low, where a break would strengthen a bearish threat and expose bull channel support at 180.80. The channel is drawn from the Feb 28 ‘25 low and represents an important key M/T support. Key resistance and the bull trigger is at 186.87, the Jan 23 high.         

• Stocks are trading narrowly mixed late Wednesday, near mid-range after a volatile first half - gapping higher after better than expected job gains for January this morning, only to reverse course - gap lower as Bitcoin fell over -4% to 66,021.
• Currently, the DJIA trading down 45.21 points (-0.09%) at 50147.41, S&P E-Mini Futures up 7 points (0.1%) at 6968.75, Nasdaq up 4.5 points (0.1%) at 23118.
• Sentiment gradually improved as market volatility evaporated in the second half, the tech-heavy Nasdaq mildly higher at the moment - supported by chip makers: Sandisk Corp +11.40%, Micron Technology +9.05%, Teradyne +5.67%, Western Digital +5.45% and NXP Semiconductors +5.41%.
• Meanwhile, Energy sector shares remained strong as crude prices gained (WTI +0.90 at 64.86): EOG Resources +4.09%, Williams Cos +3.92%, Baker Hughes +3.35% and EQT Corp +3.18%.
• On the flipside, Financials and Communication Services sector shares led declines in late trade, the former tied to Bitcoin weakness: Robinhood Markets -10.25%, Assurant -8.44%, Coinbase Global -6.04%, Intercontinental Exchange -6.00% and Block Inc -5.43%. Omnicom Group -4.53%, Match Group -3.63%,Trade Desk Inc -3.15%, Fox Corp -2.84% and Netflix -2.82% weighed on the Communications sector.

• RES 4: 159.45 High Jan 14 and the bull trigger 
• RES 3: 157.76 High Feb 9
• RES 2: 155.84 50-day EMA
• RES 1: 154.52 Intraday high  
• PRICE: 153.22 @ 16:46 GMT Feb 11  
• SUP 1: 152.80 Low 
• SUP 2: 152.10 Low Jan 27 and the bear trigger 
• SUP 3: 151.98 38.2% of the Apr 22 ‘25 - Jan 14 bull cycle
• SUP 4: 151.66 Trendline support drawn from the Apr 22 ‘25 low 

USDJPY continues to weaken as the pair extends the reversal from Monday's high. Attention is on key short-term support at 152.10, the Jan 27 low and a bear trigger. A break of this level would highlight a stronger reversal and strengthen a bear cycle that started on Jan 14. Note that a trendline support lies at 151.66 and also marks a key support. The line is drawn from the Apr 22 ‘25 low. Initial resistance is at 155.98, the 20-day EMA.