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Key Highlights USD/JPY started a downside correction from the 157.70 zone. A major bullish trend line is forming with support at 156.00 on the 4-hour chart. Gold prices are consolidating above the $2,320 support zone. Bitcoin price could aim for a move above the $70,000 level. USD/JPY Technical Analysis The US Dollar started a major […]

The post USD/JPY Stays Strong: Support Levels Hold Firm appeared first on Action Forex.

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15/12/2023

British Pound Steady after Mmixed PMIs

UK Services PMI accelerates, Manufacturing PMI declines Bailey’s dampens rate cut expectations The British pound is steady on Friday, after posting gains of 1.1% a day earlier. In the European session, GBP/USD is trading at 1.2767, up 0.03%. UK PMIs a mix British PMIs were a mixed bag in December. The Manufacturing PMI eased to […]
12/06/2024

Sunset Market Commentary

Markets US May CPI numbers served as an appetizer going into tonight’s FOMC meeting. Both headline (flat) and core (+0.2% m/m) inflation missed expectations for a 0.1% and 0.3% rise respectively. That resulted in slower y/y readings of 3.3% and 3.4% with the latter the lowest since April 2021. Airline fares (-3.6%), transportation (-1.1%) and […]
14/06/2024

NZDUSD Wave Analysis

NZDUSD reversed from key resistance level 0.6200 Likely to fall to support level 0.6100 NZDUSD currency pair recently reversed down from the key resistance level 0.6200 (which has been reversing the price from February). The resistance level 0.6200 was strengthened by the upper daily Bollinger Band and by the 61.8% Fibonacci correction of the previous […]