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Key Highlights USD/JPY extended losses below the 142.50 support. A crucial bearish trend line is forming with resistance at 145.20 on the 4-hour chart. EUR/USD and GBP/USD surged after the Fed’s dovish stance. The US Manufacturing PMI could decline from 49.4 to 49.3 in Dec 2023 (Preliminary). USD/JPY Technical Analysis The US Dollar remained in […]

The post USD/JPY Accelerates Lower As Dollar Takes Hit Post Fed Decision appeared first on Action Forex.

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05/03/2024

USD/JPY: Bullish Bias Above 150, Key US Data Eyed for Fresh Signals

USDJPY edged lower in late Asian / early European trading on Tuesday, following release of Tokyo CPI data which showed inflation jumping in February (2.5% from 1.8% previous month) and adding to expectations that the Bank of Japan may start to tighten its monetary policy soon. The pair steadies above broken psychological 150 barrier for […]
06/07/2024

Softer U.S. Inflation Expected in June Ahead of Another Hold from Fed

June’s consumer price index data for the U.S. will be key in revealing whether the resurgence in inflation is over or if softer readings in April and May were just a short reprieve. On Thursday, we expect headline CPI growth to slow to 3.1% in June, down from 3.3% in May—marking a third consecutive monthly […]
04/04/2024

AUD/USD: Strong Recovery Cracks Pivotal Barriers at 0.6600 Zone

AUDUSD rallies for the third straight day, lifted by weaker US dollar and downbeat US services PMI data (released on Wednesday). Bulls cracked pivotal 0.6600 resistance zone (double-Fibo/100DMA/round-figure), trading at these levels for the first time since Mar 21. Improved picture on daily chart (momentum broke into positive territory and MA’s turned to bullish setup) […]