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USD/JPY has rallied by 7.7% from the 16 September 2024 low with three key risk events/data for this week (Japan’s flash PMI, Tokyo CPI & general election). The recent 4-week rally in the USD/JPY has displayed exhaustion conditions. Watch the 148.95 key intermediate support. Since our last publication, the price movements of USD/JPY have extended its […]

The post USD/JPY Technical: Potential Bearish Reversal in US Dollar Strength Below 200-day Moving Average appeared first on Action Forex.

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19/01/2024

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently exhibits an overall bullish momentum. However, there is a potential scenario for price to drop towards the 1st support before resuming the uptrend. The 1st support level at 103.06 is identified as an overlap support that aligns close to the 23.60% Fibonacci retracement level. Further below, the […]
09/04/2024

Sunset Market Commentary

Markets Core bounds found some reprieve in this week’s second transitory trading session bridging Friday’s payrolls and tomorrow’s US CPI data. German Bunds outperforms US Treasuries after the ECB’s quarterly Bank and Lending Survey provided some more backing for the flagged June policy rate cut. Demand for loans from firms declined substantially, contrary to banks’ […]
01/08/2024

S&P 500 index Wave Analysis

S&P 500 index reversed from support zone Likely to rise to resistance level 5585.00 S&P 500 index recently reversed up from the support zone located between the support level 5400.00, daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from April. The upward reversal from this support zone formed the second daily […]