Thursday, September 22, 2022
HomeForexEvery day Foreign exchange Information and Watchlist: EUR/JPY

Every day Foreign exchange Information and Watchlist: EUR/JPY


European markets are wanting further jittery, as tensions in Russia are again within the highlight.

Can this pair comply with by on its breakdown?

Earlier than transferring on, ICYMI, yesterday’s watchlist checked out retracement ranges on USD/CAD forward of the Canadian CPI launch. Make sure to take a look at if it’s nonetheless a legitimate play!

And now for the headlines that rocked the markets within the final buying and selling classes:

Recent Market Headlines & Financial Knowledge:

Canada’s headline CPI slipped by 0.3% vs. projected 0.1% dip, earlier 0.1% uptick

Canadian core CPI flat in August, following earlier 0.5% improve

New Zealand dairy costs rose 2.0% in newest GDT public sale

Australia’s MI main index down by 0.1% in Sept

New Zealand bank card spending surged 29.4% y/y in Aug

API crude oil inventories present smaller than anticipated construct of 1.035M barrels

RBA Deputy Gov. Bullock: Coverage charge stage not but restrictive

BOJ conducts unscheduled bond-buying of 10 to 25-year JGBs

Russian President Putin publicizes partial navy mobilization

Putin: Our goal is to defend territories and Russia

U.S. current dwelling gross sales at 2:00 pm GMT
U.S. EIA crude oil inventories at 2:30 pm GMT
FOMC assertion and financial projections at 6:00 pm GMT
FOMC press convention at 6:30 pm GMT
New Zealand Westpac shopper sentiment index at 9:00 pm GMT
New Zealand commerce stability at 9:45 pm GMT
BOJ financial coverage choice (Sept. 22)

Use our new Foreign money Warmth Map to shortly see a visible overview of the foreign exchange market’s worth motion! 🔥 🗺️

What to Watch: EUR/JPY

EUR/JPY 1-hour Foreign exchange Chart

The euro is on the transfer, fellas!

Earlier at present, Russian President Putin stunned the markets together with his announcement of partial navy mobilization. He reiterated their objective of defending Russia and its territories from the West, citing a rise in armed forces and funding for his or her battle efforts.

Not surprisingly, this led to a decrease open for European equities, dragging the shared foreign money down as nicely.

This bearish strain was sufficient for EUR/JPY to interrupt beneath the neckline of its head and shoulders sample, confirming {that a} reversal from the uptrend is within the works.

If this retains up, the pair might tumble by the identical top because the chart sample or round 200 pips!

Shifting averages counsel that the chances are in favor of extra losses, because the 100 SMA is beneath the 200 SMA. The pair can be buying and selling beneath each indicators, so these might preserve holding as dynamic resistance ranges.

Stochastic appears to be turning decrease once more, reflecting a return in bearish momentum earlier than the oscillator even reached the overbought area.

Don’t overlook that the BOJ choice is lined up within the subsequent Asian buying and selling session and that officers have been paying shut consideration to the yen’s FX strikes currently!

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