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According to the USD/JPY chart today, the US dollar has climbed to 157 yen. This movement was driven by monetary policies of both countries’ central banks. The Federal Reserve took a hawkish stance, with Chair Jerome Powell suggesting the possibility of fewer rate cuts in 2025 than earlier expected. On the other side, the Bank […]

The post USD/JPY Rises to a Nearly 5-Month High appeared first on Action Forex.

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08/01/2024

GBPCHF Wave Analysis

GBPCHF reversed from support level 1.0690 Likely to rise to resistance level 1.0855 GBPCHF currency pair recently reversed up from the major support level 1.0690 (which stopped the sharp weekly downtrend at the end of 2022). The support level 1.0690 was strengthened by the lower weekly and daily Bollinger Bands. Given the strength of the […]
11/04/2024

Dollar Index Continues to Benefit from Hotter Than Expected US Consumer Prices

The dollar index keeps firm tone and rises further on Thursday after surging over 1% on Wednesday (the biggest one-day gains since 3 Feb 2023), lifted by hotter than expected US inflation data, which dropped bets for the start of Fed’s policy easing cycle in June. Fresh acceleration higher has fully reversed 104.83/103.61 corrective leg […]
11/06/2024

Key Factors Influencing AUDUSD: Analysis and Trading Scenarios

Bearish scenario: Sell below 0.6597 with TP1: 0.6587, TP2: 0.6579, and TP3: 0.6558, with an S.L. above 0.6611 or at least 1% of account capital. Bullish scenario: Buy above 0.6611 with TP1: 0.6626 and TP2: 0.6646, with an S.L. below 0.6597 or at least 1% of account capital. Apply a trailing stop. Fundamental Analysis The […]