4 Global Market Updates- 26 September, 2022

 

In this article, we have covered the highlights of global market news about the EUR/JPY, USD/JPY, AUD/USD and GBP/USD.

EUR/JPY Price Analysis: Pokes 61.8% Near 138.00 is the Fibo retracement.

After a downward move in the early European session to roughly 138.63, the EUR/JPY pair has now gone sideways. The asset had previously had a significant decline to around 137.50, but it quickly recovered and left a purchasing tail, indicating a prudent buying market structure. In general, bears have maintained control of the cross, thus a respectable retreat move cannot be ruled out.

On the four-hour scale, it is clear that the cross has recovered significantly after falling below the 61.8% Fibonacci retracement at 138.00 (which represents the distance from the low of August 2 at 133.40 to the high of September 12 at 145.64).

A vertical downward move in the 20-period Exponential Moving Average (EMA) approaching 140.00 suggests more weakening.

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