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EURJPY finds support near ascending line Stochastic and RSI look oversold; bullish move is expected EURJPY has declined considerably after the pullback from the three-month high of 166.68, losing more than 6% in just one month. The pair recorded a fresh, more than two-month low of 156.36, with the simple moving averages (SMAs) confirming the […]

The post EURJPY Rebounds Off More-than 2-Month Low appeared first on Action Forex.

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15/02/2024

GBPUSD Edges Down as UK Slips into Mild Recession

GBPUSD holds above key support trendline despite disappointing UK GDP data Short-term trend deteriorates, but confirmation needed below 1.2500 GBPUSD remained squeezed between the 1.2563 resistance and the key support trendline from the 2022 record low in the four-hour chart despite the UK economy falling into a mild technical recession in Q4 2023. The market […]
26/06/2024

USDJPY Flirts With 160 Level Again

USDJPY trades with weak momentum slightly below critical 160 level Overbought conditions detected; sellers wait below 158.35-159.00 BoJ intervention is possible; US core PCE inflation due on Friday at 12:30 GMT Following a constructive week, USDJPY is now hovering just below its 34-year high of 160.20, having surpassed April’s limit of 158.34 and a crucial resistance […]
04/12/2024

Elliott Wave View: USDJPY Impulsive Decline Favors More Downside

Short Term Elliott Wave structure in USDJPY suggests that rally to 156.76 ended wave X. This completed correction against cycle from 7.3.2024 high. Pair has now turned lower. Structure of the decline from 156.76 is unfolding as 5 waves impulsive Elliott Wave structure. Down from 156.76 high, wave (i) ended at 155.14 and wave (ii) […]