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No clear forward guidance and “shadow accommodative vibes” in BoJ’s latest monetary policy led to a continuation of the rally in USD/JPY (JPY sell-off). Cautious now for USD/JPY bulls as it is now resting at the 20/151.95 major resistance zone where both verbal and real FX intervention has occurred in the past. BoJ Governor Ueda’s […]

The post USD/JPY: JPY Continued to Sell Off After BoJ Put Historic End to Negative Rate Regime appeared first on Action Forex.

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BoJ Ends Negative Interest Rate Regime

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15/03/2024

Bank of England Preview – We Still Pencil in the First Cut in June

We expect the Bank of England (BoE) to keep the Bank Rate unchanged at 5.25% on 21 March, which is in line with consensus and current market pricing. Overall, we expect the MPC to repeat its previous communication relying on a data dependent approach. We expect a muted reaction in EUR/GBP with risks tilted to […]
18/06/2024

RBA More Alert and Less Certain in its Inflation Fight

The RBA left the cash rate on hold at 4.35%, but their rhetoric suggests the Board is more alert to upside inflation risks. Indeed, the RBA Board appears less certain that inflation is moderating as they’d like and there’s lingering concerns about persistent price pressures. The Reserve Bank left the cash rate unchanged at 4.35% […]
06/05/2024

EURGBP Wave Analysis

EURGBP reversed from support zone Likely to rise to resistance level 0.8625 EURGBP recently reversed up from the support zone lying between the key support levels 0.8500, 0.8550 and the lower daily Bollinger Band. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Morning Star Doji. EURGBP can be expected […]