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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 […]

The post Japanese Yen Technical Outlook: USD/JPY, EUR/JPY & GBP/JPY appeared first on Action Forex.

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18/07/2024

USDJPY: What’s Happening With JPY? Scenarios after BoJ Intervention

Bullish Scenario: Buy above 156.45 with targets at 157.16, 157.90, and 158.10 in extension. Set S.L below 155.80 or at least 1% of the account’s capital. Apply Trailing Stop. Bearish Scenario: Sell below 157.16 or 157.90 (where a PAR* forms) with TP1: 156.00, 155.80, 155.00, and 156.56 in extension with S.L above 158.00 or at […]
11/06/2024

EURJPY Trades Sideways Ahead of Key Events

EURJPY is hovering below the recent 171.56 high Yen failed to benefit from Monday’s euro weakness Momentum indicators point to weakening bullish pressure EURJPY is trading sideways today as the yen has failed to benefit from the euro’s weakness following Sunday’s European parliamentary election results. The pair is still hovering close to its recent 171.56 […]
06/05/2024

EUR/USD Gains Momentum But Still Confined In Range

Key Highlights EUR/USD started a recovery wave above the 1.0650 resistance. It broke a major bearish trend line with resistance at 1.0720 on the 4-hour chart. GBP/USD rallied and tested the 1.2620 resistance zone. Oil prices extended losses and traded below the $78.80 support. EUR/USD Technical Analysis The Euro found support near 1.0600 against the […]