HomeForex MarketEvery day Foreign exchange Information and Watchlist: EUR/JPY

Every day Foreign exchange Information and Watchlist: EUR/JPY

Is {that a} contemporary breakdown I’m seeing on AUD/JPY?

If risk-off flows keep it up, we would simply see a continuation of this drop!

Earlier than transferring on, ICYMI, I’ve listed the potential financial catalysts that you must be careful for this week. Examine them out earlier than you place your first trades right now!

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

Recent Market Headlines & Financial Information:

Chinese language economic system grew by 4.8% in Q1 2022 vs. earlier 4.0% enlargement

Chinese language retail gross sales slumped 3.5% year-over-year in March vs. anticipated 3.0% drop

China’s fastened asset funding jumped by 9.3% vs. projected 8.5% acquire

Chinese language industrial manufacturing elevated by 5.0% vs. anticipated 4.0% pickup

China’s jobless price rose from 5.5% to five.8% in March

BOJ Governor Kuroda says weak yen advantages the Japanese economic system

Macron projected to win French presidential runoff at 56% vs. Le Pen

European markets closed for Easter Monday
RBNZ Governor Orr’s speech at 8:00 pm GMT
FOMC member Bullard’s speech at 8:00 pm GMT

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

What to Watch: AUD/JPY

AUD/JPY 1-hour Foreign exchange Chart

Don’t look now, however this pair simply fell via its ascending triangle assist!

May this imply {that a} selloff is so as?

When this type of breakdown occurs, it’s often adopted by a drop of the identical top because the chart formation, which spans round 400 pips on this case.

Nevertheless, technical indicators are saying in any other case. For one, the 100 SMA is above the 200 SMA to sign that patrons nonetheless have the higher hand.

Additionally, Stochastic is dipping into the oversold area, suggesting that sellers may use a break.

Does this imply that the draw back transfer is a faux out?

If bullish stress returns, AUD/JPY may nonetheless bounce again to the highest of the triangle and even try a break larger. The pair is holding on to the 200 SMA dynamic assist for now, and a bounce may be sufficient to verify that patrons are in management.

Understand that China simply printed comparatively upbeat financial knowledge, which may be sufficient to maintain the correlated AUD afloat, whereas BOJ head Kuroda continues to jawbone the yen.

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