Global Technical Analysis Research 04 October 2024 J P M O R G A N FX Technical Update Markets recoil after a brief attempt to price a pro-cyclical regime • USD/CNH whipsaws after the policy-driven pattern break and strong US labor data. We see the 7.078-7.108 area as a critical bifurcation zone for the pair. The ability to mount a tactical rebound from that support and push back through the 2023-2024 internal pattern trend line would have meaningful implications favoring an extension for the bullish CNH tr ...