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Key Highlights USD/JPY started a downside correction from the 150.80 resistance. A major rising channel is forming with support at 149.25 on the 4-hour chart. Gold price dived below $2,000 before it started a recovery wave. Bitcoin price extended its rally above the $52,200 resistance. USD/JPY Technical Analysis The US Dollar remained in a positive […]

The post USD/JPY Holds Steady As Crypto Market Rallies appeared first on Action Forex.

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20/03/2024

Happy Fed Day

Yesterday’s Bank of Japan (BoJ) decision to exit the negative rates went quite smoothly for equities and bonds, relatively disquieting for the yen. The USDJPY spiked past 151.50 this morning on BoJ’s commitment to keep the policy as accommodative as possible and keep buying Japanese government bonds until it’s sure it hits the 2% target […]
10/04/2024

RBNZ April 2024 Monetary Policy Review: Staying the Course

Staying the course The RBNZ left the OCR at 5.5% as expected. The record of the meeting states that the risks to the outlook were viewed as “little changed” since the February Statement. The minutes noted the potential for a more flexible approach once inflation returns to the target range and when inflation expectations and […]
03/09/2024

Sunset Market Commentary

Markets Returning after a long weekend due to the Labour Day holiday, US investors see the glass half empty rather than half full looking forward to key US eco data to be published today (ISM manufacturing ISM) and later this week (Jolts openings tomorrow, ADP, jobless claims and services ISM on Thursday and payrolls on […]