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Strong acceleration higher in Asian / early European trading on Wednesday (the pair was up 1%) pushed the USDJPY’s price to new multi-week highs, last traded in late July. Recent break of psychological 150 barrier was followed by emerge from thick daily Ichimoku cloud and lift above next pivot at 150.76 (100DMA / 50% retracement […]

The post USD/JPY Outlook: Advances 1% on Wednesday Morning appeared first on Action Forex.

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22/02/2024

CHFJPY Wave Analysis

CHFJPY reversed from support level 169.65 Likely to rise to resistance level 171.45 CHFJPY currency pair recently reversed up from the key support level 169.65 (lower boundary of the narrow sideways price range inside which the pair has been trading from the start of January). The support level 169.65 was strengthened by the lower daily […]
10/09/2024

USDJPY Lacks Direction, Looks to US CPI

USDJPY hovers around 20-period moving average (SMA) Some upside momentum still present Next move will likely depend on US CPI report USDJPY is consolidating around its 20-period SMA after the rebound from the one-month low of 141.76 quickly ran out of steam. The RSI is fluctuating right beneath the 50-neutral mark, but the MACD continues […]
19/04/2024

Forecast with Elliott Wave Technique Calling EURUSD to Extend Lower

Short term Elliott Wave view in EURUSD suggests that cycle from 12.28.2023 high is in progress as a zigzag Elliott Wave structure. Down from 12.28.2023 high, wave A ended at 1.0694 and rally in wave B ended at 1.098. Wave C lower is in progress as a 5 waves impulse Elliott Wave structure. Down from […]