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EUR/JPY breaks 2024 highs, momentum accelerates – Société Générale

EUR/JPY has surged past its 2024 and September highs, confirming renewed bullish momentum. A short-term pullback toward 175.00/174.70 could attract buyers, keeping the broader uptrend intact with upside targets at 177.60 and 178.80, Société Générale's FX analysts note.

Strong uptrend extends as EUR/JPY gaps higher

"EUR/JPY has surpassed both the 2024 high and the September peak, opening with a significant upward gap. This underscores a strong resurgence in upward momentum. Should a brief pullback occur, the gap area around 175.00/174.70 is expected to offer initial short-term support."

"If the pair maintains above this zone, the uptrend is likely to continue. The next potential objectives are located at projections of 177.60 and 178.80."

Global PMIs: Stockpiling continued in September – Standard Chartered

Composite PMIs show moderating economic activity, following August’s 14-month high. Manufacturing remains supported by tariff front-loading; global supply, price pressures are contained.
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AUD/USD: Any decline is likely part of a lower range of 0.6580/0.6620 – UOB Group

Australian Dollar (AUD) may edge lower; any decline is likely part of a lower range of 0.6580/0.6620. In the longer run, AUD remains neutral but is now expected to trade in a narrower range of 0.6555/0.6640AUD remains neutral but is now expected to trade in a narrower range of 0.6555/0.6640.
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