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GBPUSD broke support zone Likely to fall to support level 1.2465 GBPUSD currency pair recently broke the support zone located between the support level 1.2620 (former monthly low from June) and the support trendline of the daily down channel from September. The breakout of this support zone accelerated the active minor impulse wave 3 of […]

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18/03/2024

USD/JPY: JPY Plummeted, Ignoring the Possibility of a More Hawkish BoJ

The price actions of the USD/JPY have reacted negatively right below the 150.70 key resistance as highlighted in our previous analysis and shed -435 pips/-2.9% to print a recent intraday low of 146.48 on 8 March. Thereafter, the USD/JPY has drifted higher to trade back above the 148.00 psychological level in light of the “not […]
21/12/2023

Cracks

We start feeling the cracks in market optimism: the bonds extended their rally yesterday after the inflation data in Britain surprised to the downside, but major US indices saw a sharp retreat. A 12% plunge in FedEx – which acts like a gauge of economic activity, the overbought market conditions in major global stock indices […]
07/06/2024

USD/JPY Steady Despite Soft Household Spending

The Japanese yen is calm on Friday. In the European session, USD/JPY is trading at 155.50, down 0.06% on the day at the time of writing. Japan’s household spending slips Japan’s economic activity has been sluggish and household spending, a key driver of economic growth, declined by 1.2% m/m in April. This followed a 1.2% […]