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Key Highlights USD/JPY is consolidating losses above the 148.65 support zone. A key bearish trend line is forming with resistance at 151.40 on the 4-hour chart. EUR/USD could recover if it clears the 1.0620 resistance zone. Bitcoin breached the milestone level of $100,000 and traded to a new all-time high. USD/JPY Technical Analysis The US […]

The post USD/JPY Faces Challenges as NFP Report Looms Large appeared first on Action Forex.

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19/08/2024

EURUSD Tests 1.1050 Tricky Area

EURUSD flirts with 8-month high again Remains well above the long-term symmetrical triangle 50- and 200-day SMAs ready for bullish cross Momentum oscillators confirm upside move EURUSD has been in a bullish move, especially after the rally above the long-term symmetrical triangle last week. The pair is again battling with the almost eight-month high of 1.1050, with […]
26/07/2024

GBPJPY Extends Decline to a Fresh 2-month Low

GBPJPY pulls back from its 16-year peak of 208.10 The pair falls to its lowest level since May 16 RSI and MACD warn of an overstretched retreat GBPJPY has been in a prolonged uptrend since early 2024, posting a 16-year high of 208.10 on July 11. However, the pair has been undergoing a pullback since then, with the […]
29/11/2023

Can USD Recover?

The EURUSD pair is currently making steady gains, approaching multi-month highs around 1.0960, driven by a weakened USD and Christine Lagarde’s somewhat hawkish remarks before the European Parliament. Minor housing data from the U.S., specifically New Home Sales for October, came in below expectations but didn’t significantly impact the pair. Lagarde, President of the European […]