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Key Highlights USD/JPY started a major decline from the 150.80 resistance zone. It traded below a key bullish trend line with support at 150.00 on the 4-hour chart. Gold prices surged above the $2,120 resistance zone. The nonfarm payrolls could change by 200K, down from 353K. USD/JPY Technical Analysis The US Dollar struggled to clear […]

The post USD/JPY Nosedives After Rejection, Gold Extends Rally appeared first on Action Forex.

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18/04/2024

AUDJPY Pulls Back But Stays in Uptrend

AUDJPY prints higher highs and higher lows above uptrend line MACD and RSI detect positive momentum A break above 100.80 will confirm a higher high For the outlook to change, a break below 95.80 may be needed AUDJPY pulled back lately, after it hit resistance at around 100.80 on April 9. However, the pair remains above […]
22/05/2024

Bank of England – Revised BoE Call – Hot Service Inflation Spells Trouble

On the back of continued strong inflationary pressures in the service sector, as evident in the April inflation print, we revise our BoE call. We now expect the first 25bp cut in August (prev. June). We expect quarterly cuts from August and through 2025, leaving the Bank Rate at 3.75% by the end of 2025. […]
10/01/2024

GBP/USD: Near-Term Action Lacks Clearer Direction Signal But Overall Still Bullishly Aligned

Cable is holding around 1.2700 mark in early Wednesday, following a triple upside rejection at 1.2770 zone. Larger picture shows the pair trading below the middle of the range (1.2610/1.2827) which extends into fourth consecutive week and capped by 200WMA (1.2837). Daily studies are mixed as MA’s remain bullishly aligned, but momentum is turning negative, […]