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The Japanese yen has steadied on Monday after posting huge gains on Friday. USD/JPY is trading at 142.43 in the European session, up 0.15%. Incoming PM Ishiba says he’ll call snap election The yen soared on Friday but it was in response to political rather than economic developments. The ruling Liberal Democratic Party (LDP) unexpectedly […]

The post Japanese Yen Soars on Japan’s Political Drama appeared first on Action Forex.

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18/11/2024

A Heavy Gold: Investors Taking Profits

Gold has been under consistent selling pressure since the end of October, as investors take profits following a prolonged rally. This week alone, gold prices have fallen nearly 5%, marking the steepest weekly decline in almost three years. From its peak, the metal has now lost over $250 or approximately 9%, making this the most […]
22/02/2024

S&P 500 (US500): Consolidates in Buying Zone. Watch for a Surge Towards 5000 Intraday

Bullish Scenario: Buying above 4980 with TP1: 4993, TP2: 5005, and TP3: 5014 (Intraday levels). TP (Swing Trading): 5031.90, 5045.66, and 5054. It is recommended to set a stop loss (S.L.) below 4965 or at least 1% of the account capital**. Bearish Scenario: Selling below 4960 with TP1: 4935, TP2: 0.6487, and TP3: 4924 (Intraday […]
13/12/2024

Cable Dips Further After Weak UK Data, Consolidation May Precede Fresh Push Lower

GBPUSD fell further on Friday, holding in red for the third consecutive day, driven by stronger dollar and additionally pressured by unexpectedly weak UK Oct GDP numbers. Fresh weakness tested support at 1.2618 (last week’s low / 100WMA) and pressure nearby Fibo support at 1.2610 (61.8% retracement of 1.2487/1.2811 upleg), where bears faced headwinds. Near […]