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USDJPY attempts to break above near-term narrow range and sustain gains after Tuesday’s marginal close above pivotal Fibo barrier at 157.01 (61.8% of 160.19/151.85 pullback), where attacks repeatedly failed last week. Technical signals are mixed on daily chart as Tenkan-sen crossed above Kijun-sen, but positive momentum is fading and stochastic is about to emerge from […]

The post USD/JPY: Holds Bullish Bias But Daily Techs Mixed, All Eyes on US Inflation Data appeared first on Action Forex.

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27/01/2024

Weekly Economic & Financial Commentary: Almost Everything Coming Up Roses

Summary United States: Almost Everything Coming Up Roses Data released this week garnered further optimism that the economy can power through the Federal Reserve’s efforts to corral inflation—an endeavor the Fed could increasingly be construed as achieving. Economic activity ended the year on better footing than expected, and inflation continued its deceleration. Next week: Construction […]
12/01/2024

AUDJPY Wave Analysis

AUDJPY reversed from resistance level 97.45 Likely to fall to support level 96.00 AUDJPY currency pair recently reversed down from the resistance level 97.45 (which has been reversing the pair from the middle of December). The resistance level 97.45 was strengthened by the upper daily Bollinger Band. AUDJPY can be expected to fall further to […]
16/07/2024

September 25 bps Fed Rate Cut Fully Discounted

Markets Fed Chair Powell in an interview at the Economic Club of Washington DC didn’t want to commit to any timing of a first Fed rate cut. By doing so, he effectively closed the door on the (tail) risk of a surprise move at the next, July 31, FOMC meeting. With inflation coming down and […]