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GBPUSD creates upside rally from five-month low Stochastic and RSI hold in overbought areas GBPUSD has been in a steady uptrend over the last month, posting a fresh two-month high of 1.2782 and remaining well above the short-term simple moving averages (SMAs). Technically, the pair is sailing near overbought waters according to the stochastic oscillator. […]

The post GBPUSD Challenges New 2-Month High appeared first on Action Forex.

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21/05/2024

EURJPY Shows Appetite for Retesting 40-Year High

EURJPY holds well above uptrend line RSI stands near 70 level Next target at multi-year peak EURJPY is rallying sharply higher after the strong bounce off the 164.00 support level and the medium-term ascending trend line. The pair is heading towards the previous 40-year high of 171.56 with the technical oscillators confirming the buying interest. […]
20/08/2024

EURJPY’s Rebound Falters Ahead of 200-SMA

EURJPY recovers from its 2024 low posted on August 6 But the rebound stumbles before testing 200-day SMA Oscillators are skewed to the downside EURJPY experienced a vast selloff in July, dropping from a 32-year peak of 175.41 to as low as 154.34 on August 6, which is also the pair’s 2024 bottom. Since then, the pair […]
25/04/2024

Yen in Search of New Lows, Commodity Currencies at a Low Start

In recent trading sessions, the dollar has been trading quite differently to leading currencies. Thus, the yen is reaching historical lows, European currencies have managed to correct, and the Australian and Canadian dollars are testing strategic supports. USD/JPY The absence of currency interventions from the Bank of Japan and strong macroeconomic data from the United […]