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AUDJPY prints higher highs and higher lows above uptrend line MACD and RSI detect positive momentum A break above 100.80 will confirm a higher high For the outlook to change, a break below 95.80 may be needed AUDJPY pulled back lately, after it hit resistance at around 100.80 on April 9. However, the pair remains above […]

The post AUDJPY Pulls Back But Stays in Uptrend appeared first on Action Forex.

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11/01/2024

USD/JPY: Recovery Acceleration Signals that Corrective Phase Might Be Over

Bulls regained traction and pushed the price up 0.75% on Wednesday, retracing the largest part of pullback from 2024 high (145.97, Jan 5) to 143.41 (Jan 9). Fresh strength emerged after corrective dip was strongly rejected just above 200DMA (143.37), marking a healthy correction and keeping in play near-term bulls off 140.25 (Dec 28 low). […]
11/12/2023

AUD/USD: Holds in Extended Sideways Mode, Awaiting Key Economic Releases for Direction Signals

AUDUSD eases further on Monday and breaks below 200DMA which marks approximately the mid-point of 0.6525/0.6620 congestion, in which the pair is holding for the fifth straight day. Near-term action lacks clear direction signal while holding within the range, as daily MA’s are in mixed setup and momentum indicator is moving along with the centreline, […]
09/04/2024

EUR/USD: Holds in Extended Sideways Mode, Initial Negative Signals Developing on Daily Chart

Near-term action remains in a directional mode and ranging between converged 55/200DMA’s (1.0831) and 100DMA (1.0871). Strong rejections in both directions in past few sessions add to neutral stance, with the pair looking for fresh direction signals. Daily studies are mixed, though 14-d momentum bearish divergence and overbought stochastic seen as warning. Expect initial bearish […]