By Andrew Spencer — Jan 16 - 06:40 PM
• Steady - closed +0.15% with the USD off 0.1%, as UST yields eased
• Strong yen capped USD - BOJ hike hopes fuelled repatriation - EUR/JPY -0.8%
• French PM Bayrou survived a no-confidence vote, though many obstacles remain
• Charts - positive daily momentum studies, 21-day Bollinger bands ease
• 5, 10 & 21-DMAs coil, weekly moving averages fall - downtrend has stalled
• Wednesday's 1.0354 top then last week's 1.0437 high are initial resistance
• 1.0195 0.618% of 2022/2023 rise then Monday's 1.0177 base are first supports
• Bulls need a close above last week's 1.0437 high to get excited
• 1.0300 4.517 BLN Jan 17th strikes a likely magnet in Asia
Andy
(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)
Source:
London Stock Exchange Group | Thomson Reuters