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Cable is holding around 1.2700 mark in early Wednesday, following a triple upside rejection at 1.2770 zone. Larger picture shows the pair trading below the middle of the range (1.2610/1.2827) which extends into fourth consecutive week and capped by 200WMA (1.2837). Daily studies are mixed as MA’s remain bullishly aligned, but momentum is turning negative, […]

The post GBP/USD: Near-Term Action Lacks Clearer Direction Signal But Overall Still Bullishly Aligned appeared first on Action Forex.

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05/01/2024

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently has a bearish overall momentum, indicating weakness in the US Dollar. Price could potentially continue its bearish movement towards the 1st support level. The 1st support at 101.77 is categorized as a pullback support and is associated with the 38.20% Fibonacci Retracement level. This level may act […]
24/06/2024

Yen Steadies After Dreadful Week

The Japanese yen has posted gains on Monday. In the European session, USD/JPY is trading at 159.26, down 0.10%. The yen hasn’t had a winning daily session since June 19th and declined 1.5% last week. On the data front, Japan releases the Services Producer Price Index. There are no economic releases in the US but […]

USD/JPY Analysis: Rate Rises Above 159.9 Yen per Dollar

The yen was last this weak against the US dollar in late April, leading to currency interventions as the Bank of Japan deemed a rate above the psychological mark of 160 yen per USD unacceptable. The current weakness of the yen has triggered the usual warnings from Japanese officials against “excessive” volatility, which can be […]