JPY: USDJPY is eyeing the April low, lowest since September
Apr-16 07:36
- Watch the USDJPY here, as just noted in the Gold comment, CHF and JPY are extending gains, the USDJPY is eyeing the April low of 142.07 (prices are according to Bloomberg), its lowest level since late September.
- A clear break through 142.00 {USDJPY Curncy} opens to 141.66 next.
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EQUITY TECHS: E-MINI S&P: (M5) Oversold But Remains Bearish
Mar-17 07:36
- RES 4: 5976.83 50-day EMA
- RES 3: 5864.25 Low Jan 13 and a recent breakout level
- RES 2: 5859.54 20-day EMA
- RES 1: 5726.75 High Mar 12
- PRICE: 5654.75 @ 07:25 GMT Mar 17
- SUP 1: 5559.75 Low Mar 13
- SUP 2: 5483.50 2.00 proj of the Dec 6 ‘24 - Jan 13 - Feb 19 swing
- SUP 3: 5396.00 2.236 proj of the Dec 6 ‘24 - Jan 13 - Feb 19 swing
- SUP 4: 5341.87 2.382 proj of the Dec 6 ‘24 - Jan 13 - Feb 19 swing
The trend condition in S&P E-Minis remains bearish and fresh cycle lows last week reinforced current conditions. Moving average studies are in a bear-mode set-up highlighting a dominant downtrend Sights are on 5483.50, a Fibonacci projection. Note that the short-term trend condition is oversold, a corrective bounce would allow this set-up to unwind. Firm resistance to watch is 5976.83, the 50-day EMA.
EGBS: J.P.Morgan Recommend Underweight 3-Year OATs
Mar-17 07:33
J.P.Morgan think that the 3s/10s OAT curve is too steep, while pointing to “anecdotal evidence suggesting concentrated overweight carry exposures in the short-end the OAT curve”.
- As a result, they deem underweight short-end OAT plays “attractive for risk-off exposure”.
- They have recommended converting an existing underweight France vs. Spain 3s to underweights 3Y France vs. Germany to increase beta of the related positioning to risk-off moves.
USD: NZDUSD look to test the 2025 high
Mar-17 07:28
- G10 FX has seen a similar Overnight session witnessed in Govies, mostly tight, with a mixed Dollar overall.
- Nonetheless, the Kiwi is the best performer, up 0.35%, and it is looking to break the 2025 high printed in February going into the European session.
- This level in NZDUSD is situated at 0.5773, now testing 0.5769, and a continuation through that level, opens to the 0.5800 figure.
- The Worst early performer in G10 is the Yen, albeit off its worst level as Europe joins the session.
Resistance in USDJPY is at 149.19, last Week's high, followed by 149.46 20-day EMA.
