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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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01/10/2024

ECB Can Afford to Take a More Dovish Stance

The Chinese stocks extended gains on Monday as China announced more stimulus measures and investors rushed to buy before the markets closed for national holiday today. The CSI 300 index jumped more than 8% on Monday and was up by a whopping 26% in six sessions. The Chinese stimulus measures would normally bring joy to […]
29/04/2024

US 500 Cash Index in the Green Ahead of Fed

US 500 index is edging higher, a tad below the 50-day SMA Bulls are feeling more confident following strong tech earnings Momentum indicators are mixed at this stage The US 500 cash index is trying to record its third consecutive green candle today as the bulls are probably feeling relieved following the recent strong tech earnings […]
18/01/2024

Elliott Wave Analysis: Dollar Index Approaching Resistance at 104

Markets are sideways but volatility can step in if there will be any major news out from the World Economic Forum in Davos, Switzerland. There are a number European central bank officials who noted that markets went to far regarding cut expectations, so it will be interesting to listed ECB President Lagarde later at 16:15CET. […]