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Yesterday’s Bank of Japan (BoJ) decision to exit the negative rates went quite smoothly for equities and bonds, relatively disquieting for the yen. The USDJPY spiked past 151.50 this morning on BoJ’s commitment to keep the policy as accommodative as possible and keep buying Japanese government bonds until it’s sure it hits the 2% target […]

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16/05/2024

AUDUSD Wave Analysis

AUDUSD broke key resistance level 0.6650 Likely to reach resistance level 0.6760 AUDUSD currency pair recently broke the key resistance level 0.6650, which has been reversing the pair from the start of March. The breakout of the resistance level 0.6650 coincided with the breakout of the 61.8% Fibonacci correction of the downward correction from the […]
26/04/2024

Sunset Market Commentary

Markets The yen showed some huge intraday swings today. USD/JPY rose beyond 156 and was moving quickly towards 157 next. A violent countermove then pushed it back to the 155 figure only to trade back at the highest level of the day (and 34 years) just south of 157. It’s the kind of move you […]
05/03/2024

US 500 Battles With 123.6% Fibonacci

US 500 cash index extends its series of record highs Tests 123.6% Fibonacci extension of its 2022 downtrend Oscillators look overbought, increasing risk of a pullback The US 500 stock index (cash) has been staging an impressive rally since it bottomed out in October 2023, generating consecutive all-time highs. Given that the price is trading into uncharted waters, the Fibonacci extensions […]