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JPY came down across the board, even though BOJ decided to end its ultra-loose policy, by raising rates for 10bp in March. USDJPY is coming higher anyhow, with price breaking some very important trendline connected from 2023 highs. It can even represent part of a bullish triangle which is finished now, so USDJPY has room […]

The post Elliott Wave Analysis on USD/JPY: Correction Within Uptrend appeared first on Action Forex.

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EURJPY Pulls Back Towards Crucial Trendline

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13/05/2024

EUR/USD Could Extend Gains Unless This Support Fails

Key Highlights EUR/USD started a decent increase and climbed above 1.0750. A key bullish trend line is forming with support at 1.0700 on the 4-hour chart. Gold prices cleared the $2,335 resistance to move into a positive zone. Oil prices are showing bearish signs below the $80.00 region. EUR/USD Technical Analysis The Euro started a […]
09/08/2024

Oil May Begin a Fresh Climb Soon

Oil prices rose for the third consecutive session on Thursday, driven by easing demand concerns from better-than-expected U.S. job data and escalating tensions in the Middle East. Brent crude increased by 0.73% to $78.90 per barrel, while U.S. West Texas Intermediate climbed 1.16% to $76.10. The market was also influenced by a significant drop in […]
05/02/2024

It Might Take Until Summer for Fed to Start Easing Cycle

Markets Fed Chair Powell signaled last week that the Fed wants additional confirmation that the economy is on a path that should bring inflation back to 2% in a sustainable way, even as inflation developed favorably over the past six months. The labour market in this respect is an important variable. Since the December meeting, […]