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Japanese authorities have not confirmed whether they have intervened in the market to support the Yen. USD/JPY broke a long-term descending trendline but found support near the 100-day MA and 155.00 level. Price Action outlook and potential setups on USD/JPY and GBP/JPY. Fundamental Overview The Japanese Yen is enjoying a stellar week thanks in part […]

The post JPY Technical Outlook: Price Action on USD/JPY, GBP/JPY appeared first on Action Forex.

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13/12/2023

Could Silver Bulls Stage a Rebound?

Silver trades sideways today after a quick 12% correction Sell-off stopped a tad below a busy resistance area Momentum indicators are sending mixed signals Silver is trading sideways today, bouncing off the October 5, 2023 ascending trendline and trying to test the resistance set by the 50-day simple moving average (SMA). This appears to be […]
10/07/2024

USDJPY Reapproaches Multi-Year Highs

USDJPY edges higher after the pullback from 38-year high pauses The risk of a Japanese intervention is active at current levels Momentum indicators provide overbought signals USDJPY experienced a minor setback from its 38-year high of 161.95, which quickly came to a halt at the April peak of 160.20. The pair is on track to revisit […]
31/07/2024

GBP/JPY Accelerates Lower After BoJ Rate Hike

GBPJPY extends steep downtrend by dropping 1.7% on Wednesday and on track for the biggest daily drop since 12 July 2023, after BOJ rate hike further boosted yen, while sterling remains deflated by growing expectations that BoE would deliver a 25 basis points rate cut tomorrow. Markets also focus on today’s Fed rate decision at […]