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The Japanese yen is hovering near 150 per dollar, retreating from last week’s four-month highs of 151. The 150-152 area is hazardous for short-term traders, as this is the level from which the Japanese Ministry of Finance intervened in October 2022 and November 2023 to stop the currency from depreciating. However, it would be too […]

The post Yen Bears Have a Good Chance of Reaching Lows Not Seen Since 1990 appeared first on Action Forex.

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17/05/2024

Australian Dollar Hits 4-month High

The Australian dollar is lower on Friday. AUD/USD is currently trading at 0.6658 in the European session, down 0.31% on the day. The Aussie touched a high of 0.6714 on Thursday, its highest level since January 10th. This followed a massive 1% surge on Wednesday after the US inflation report indicated that April CPI ticked […]
02/09/2024

CADJPY Wave Analysis

CADJPY reversed from key support level 105.00 Likely to rise to resistance level 110.00 CADJPY currency pair recently reversed up with the weekly Hammer from the key support level 105.00 (which has been reversing the price from the middle of 2023). The support level 105.00 was strengthened by the lower weekly Bollinger Band and by […]
05/06/2024

AUD Shrugs as Australian GDP Misses Estimate

After starting the week with sharp swings, the Australian dollar is showing little movement on Wednesday. AUD/USD is trading at 0.6644 in the European session, down 0.06% on the day. Australian GDP posts 0.1% growth Australia’s GDP was a disappointment, with a gain of just 0.1% q/q in the first quarter. This was lower than […]