POWER: Works Extended at France's 915MW Cruas 3 Nuke

• Relative to the BOE's forecasts headline is in line to the hundredth.
• Food is actually 9 hundredths lower (was 21 hundredths higher last month).
• Energy is in line with consensus but surprised the BOE 44 hundredths to the upside (due to petrol prices).
• This was offset by services being 8 hundredths lower than the BOE forecast at 4.72%Y/Y (vs 4.80%).

• RES 4: 177.08 2.000 proj of the Feb 28 - Mar 18 - Apr 7 price swing 
• RES 3: 175.43 High Jul 11 ‘24 and a key medium-term resistance
• RES 2: 174.86 1.764 proj of the Feb 28 - Mar 18 - Apr 7 price swing
• RES 1: 173.97 High Jul 28 and the bull trigger 
• PRICE: 173.66 @ 07:08 BST Sep 17
• SUP 1: 172.67/171.56 20- and 50-day EMA
• SUP 2: 169.73/45 Low Jul 31 / 23.6% of the Feb 28 - Jul 28 bull leg
• SUP 3: 168.46 Low Jul 1  
• SUP 4: 167.46 Low Jun 23   

The trend set-up in EURJPY is unchanged, it remains bullish and sights are on key resistance and the bull trigger at 173.97, the Jul 28 high. Clearance of this level would confirm a continuation of the bull phase. Moving average studies are in a bull-mode position too, highlighting a primary uptrend. Clearance of 173.97 would open 174.86, a Fibonacci projection. Key support to watch lies at the 50-day EMA at 171.56.

• Headline 3.79%Y/Y in August (MNI median 3.7%, BOE 3.79%, 3.83% in July)
• Core 3.59%Y/Y in August (MNI median 3.7%, BOE 3.62%, 3.76% in July)
• Services 4.72%Y/Y in August (MNI median 4.8%, BOE 4.8%, 4.98% in July)
• NEIG 1.61%Y/Y in August (MNI median 1.66%, BOE 1.57%, 1.63% in July)
• Energy 2.47%Y/Y in August (MNI median 0.7%, BOE 2.03%, 1.45% in July)
• Food, alcohol, tobacco 5.33%Y/Y in August (MNI median 5.07%, BOE 5.32%, 5.14% in July)
• Food and non-alcoholic beverages 5.12%Y/Y in August (MNI median 4.75%, BOE 5.22%, 4.95% in July)