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Key Highlights USD/JPY tested the 153.50 support and recovered losses. A key bearish trend line is forming with resistance at 156.00 on the 4-hour chart. EUR/USD gained pace for a move above the 1.0800 resistance. Bitcoin climbed higher and tested the $66,500 resistance zone. USD/JPY Technical Analysis The US Dollar started a sharp decline from […]

The post USD/JPY: Facing Uphill Battle Amid Market Challenges appeared first on Action Forex.

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14/09/2024

Weekly Economic & Financial Commentary: Let the Easing Begin

Summary United States: Firmer Inflation Tilts the Scales Toward 25 The core Consumer Price Index rose 0.3% in August, the fastest increase in four months. Soft measures like NFIB price plans continue to signal a downward trend in inflation; however, recent price resiliency may prompt FOMC members to exercise a bit more caution in September. […]
12/01/2024

AUDJPY Wave Analysis

AUDJPY reversed from resistance level 97.45 Likely to fall to support level 96.00 AUDJPY currency pair recently reversed down from the resistance level 97.45 (which has been reversing the pair from the middle of December). The resistance level 97.45 was strengthened by the upper daily Bollinger Band. AUDJPY can be expected to fall further to […]
30/07/2024

AUDCHF Wave Analysis

AUDCHF reversed from key support level 0.5735 Likely to rise to resistance level 0.5850 AUDCHF currency pair recently reversed up with the daily Japanese candlestick Piercing Line from the key support level 0.5735 (the previous monthly low from April, as can be seen below). The support level 0.5735 was strengthened by the nearby lower daily […]