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USDJPY made big, sharp and impulsive sell-off through summer. That was wave (A) that caused a bounce in last two months, for a rally in (B) which is now at important 153-155 resistance, but there’s no evidence of a reversal yet, unless we see a bearish intraday impulse, below 146.50, where overlap will likely confirm […]

The post USD/JPY May Face Resistance, At Least Temporary One appeared first on Action Forex.

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22/10/2024

USDJPY Poised for a Bullish Trend Reversal

USDJPY jumps back into the 150 area after two months Caution needed due to overbought conditions USDJPY kicked off the week on a strong note, rising at a faster pace to close above the 150.00 mark for the first time since August. The pickup in the price confirms a bullish breakout above the August high […]
11/11/2024

Gold (XAU/USD) Prices Slide as US Dollar (DXY) Rally Continues

Gold prices retreat as US Dollar strengthens as hopes of aggressive rate cuts fade. China’s economic slowdown concerns and potential sanctions impact iron ore and gold prices. Technical analysis indicates gold’s vulnerability to further downside, with key levels identified. Gold prices have started the week on the back foot as the US Dollar continues to […]
13/09/2024

Cliff Notes: Nerves Show on the Outlook

Key insights from the week that was. The September Westpac-MI Consumer Sentiment survey once again emphasised the deep pessimism entrenched among Australian households, with the headline index ticking down –0.5% to 84.6. Concerns over the economic outlook are starting to have more of an impact on consumers’ attitudes, the sub-indexes tracking views on the economy […]