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The USD/JPY pair soared to 160.34 on Thursday, reaching levels not seen since 1986, as market participants increasingly anticipate potential interventions from Japanese authorities. Despite repeated verbal assurances, the Japanese government has not taken concrete financial measures, leaving the yen vulnerable. Finance Minister Shunichi Suzuki reiterated that the government stands ready to counteract sudden and […]

The post Yen Under Pressure as USD/JPY Hits New Highs Since 1986 appeared first on Action Forex.

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28/12/2023

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently shows an overall bearish momentum, indicating a potential for price to make a bearish continuation towards the 1st support. The 1st support level at 100.67 is identified as a swing-low support that aligns with the 78.60% Fibonacci projection level. Further below, the 2nd support level at 99.62 […]
19/12/2023

Gold Price Could Struggle To Gain Traction – Here’s Why

Key Highlights Gold prices dropped toward the $1,970 support before the bulls appeared. A key bearish trend line is forming with resistance near $2,036 on the 4-hour chart. Crude oil prices started a recovery wave above the $71.20 resistance. AUD/USD rallied and cleared the 0.6700 resistance zone. Gold Price Technical Analysis Gold failed to continue […]
03/05/2024

Elliott Wave Analysis on EURJPY Expects Support Soon

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