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In the final trading sessions of May, leading currencies have been in a downward trend against the dollar. For instance, the pound/dollar pair lost over 100 pips in a single day, euro sellers in the EUR/USD pair are testing 1.0800, and the USD/CAD pair might update its May high around 1.3760. USD/CAD The rise in […]

The post In the Spotlight: US Inflation and GDP Data appeared first on Action Forex.

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04/01/2024

GBP/JPY Price Analysis: Refreshes Weekly High Above 182.00

GBP/JPY rises swiftly above 182.00 amid uncertainty over timeframe of BoJ’s exit to loose policy. The UK Composite and Services PMI are seen remaining unchanged. Advancing 20-EMA indicates strength in the bullish bias. The GBP/JPY pair prints a fresh weekly high slightly above 182.00 as investors capitalize on risk-on mood. The cross advanced on Thursday […]
06/03/2024

NZD/JPY Technical: Failure Bullish Breakout Indicates Potential Softness (JPY Strength) Ahead

3 key risk events that may significantly influence the movement of NZD/JPY; Japan’s FY 2024/2025 annual wage negotiations preliminary results (15 March), BoJ’s monetary policy outcome (19 March) & Fed FOMC and release of its latest dot plot (20 March). Technical analysis has indicated a potential medium-term bearish momentum on sight for NZD/JPY. Watch the […]
25/06/2024

Japanese Yen Technical Outlook: USD/JPY, EUR/JPY & GBP/JPY

FX intervention chatter returns, but is it enough for the ailing JPY? USD/JPY at psychological 160.00 handle. EUR/JPY prints morningstar candlestick pattern, hinting at the potential for further upside. Fundamental Overview The Japanese Yen continues to tread water against its G 7 peers as its monetary policy stance continues to be scrutinized. Many analysts, myself […]