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EURJPY continues to trend higher and extends steep upleg into sixth straight day, to hit new record high above 171 mark in early Monday trading. Bulls firmly hold grip despite overbought conditions and signals from Japan’s authorities about the intervention to support falling yen, which came under increased pressure after dovish BoJ’s stance in the […]

The post EUR/JPY Outlook: Hits New Record High appeared first on Action Forex.

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USD/JPY Analysis: Rate Rises Above 159.9 Yen per Dollar

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11/09/2024

Elliott Wave Update: USD/JPY Moving into 138.00-140.00 Zone

USD/JPY is finally topping out this year at our 162-164 resistance area, where we called the end of a big ending diagonal on the daily chart. Notice that the price is now falling sharply and impulsively through the lower trendline support and straight, all the way down to the starting point of the wedge pattern, […]
02/05/2024

EUR/GBP outlook: Thin Daily Cloud Provides a Lot of Headwinds and Keeps Risk of Recovery Stall

Two-day recovery seems to be running out of steam, following repeated failure to break above thin daily cloud, with long upper shadows on daily candles, warning of persisting pressure. Technical picture on daily chart is bearishly aligned as MA’s remain in full bearish setup and 14-day momentum turned south and nearing the centreline. Another failure […]
11/01/2024

EURJPY Wave Analysis

EURJPY broke key resistance level 158.40 Likely to rise to resistance level 160.95 EURJPY currency pair recently broke through the key resistance level 158.40 (which stopped the previous waves 1 and b, as can be seen below) intersecting with the 50% Fibonacci correction of the downward impulse from November. The breakout of the resistance level […]