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USDJPY is consolidating near new multi-decade high above 153 mark, after surging around 1% on stronger than expected US inflation data. Eventual break above narrow two-week range generates initial signal of bullish continuation of the latest bull-leg from 146.48 ((Mar 11 low) and exposes targets at 154.66 (Fibo 123.6% projection and 155.75 (1990 peak). On […]

The post USD/JPY: Hit New Multi-Decade High after Strong US CPI Numbers, Intervention Looms appeared first on Action Forex.

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28/12/2023

GBP/JPY Price Analysis: Pound Breaks Trendline Support and Tests 180.00 Area

The Sterling breaks trendline support to test the 180.00 level. The Pound looks vulnerable against a stronger Yen. Below 180.00 the target will be October and November lows at the 178.10/30 area. The Sterling has broken below the bottom of the last three weeks’ triangle pattern, at 181.80, weigher by broad-based Yen strength, and is […]
07/05/2024

UK100 Analysis: Stock Market Optimistic Ahead of Bank of England News

On Monday, the UK observed a bank holiday for May Day, and on Tuesday, the stock market demonstrated accumulated optimism. The FTSE index (UK100) today surpassed the 8300 mark. Additionally: → The opening occurred with a bullish gap; → On the daily chart of UK100, today the RSI indicator is in overbought territory, unseen since […]
20/02/2024

Sunset Market Commentary

Markets A quiet weekend, uninspiring overnight Asian dealings, an all but empty economic calendar & US financial markets closed for Presidents’ Day. Those are the poor cards European market were dealt with at the start of the week. It doesn’t come as a surprise, then, to see German yields, the euro and European equities basically […]