By Andrew Spencer — Jan 29 - 10:00 PM
• +0.1% as broad-based yen strength leads the USD lower USD/JPY -0.4%
• Reeves puts a new Heathrow runway at the heart of the "growth corridor"
• Like all infrastructure implementation will be fundamental to success
• ECB rate decision - 25pt cut unlikely to surprise, but EUR/GBP flows likely
• Charts - daily momentum studies rise, 21-day Bollinger bands contract
• 5 & 10-DMAs climb, negative weeklies - net a positive short-term bias
• Yesterday's 1.2394 low, and then the 1.2353 21-DMA are initial supports
• Targets a test of the 1.2575 Jan 7 high, and then the 1.2616 2025 top
• Close below the 1.2353 21-day moving average would end the topside bias
Andy
(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)
Source:
London Stock Exchange Group | Thomson Reuters