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USDJPY remains firmly in red and cracked pivotal Fibo level at 140.48 (61.8% retracement of 127.22/161.95), the upper boundary of 140.48/00 key support zone, after renewed weakness in past two days fully offset positive signal from Wednesday’s long-tailed daily candlestick. The pair is on track for another weekly loss, with long upper shadow on weekly […]

The post USD/JPY Outlook: Bears Hold Grip and Crack Pivotal Support Zone appeared first on Action Forex.

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30/11/2023

USDJPY Shows Incomplete Elliott Wave Bearish Sequence

USDJPY shows incomplete bearish sequence from 11.13.2023 suggesting further downside. Down from 11.13.2023 high, decline is unfolding as a double three Elliott Wave structure. Down from 11.13.2023 high, wave (W) ended at 147.15. Wave (X) ended at 149.78 with internal subdivision as a double three in lesser degree. Up from wave (W), wave W ended […]
16/04/2024

Higher Energy Prices Masked Another Downside Canadian Inflation Surprise in March

Canadian CPI growth ticked up to 2.9% year-over-year in March from 2.8% in the prior month, thanks to higher energy prices. Despite the rise, details in the report continue to point to price pressures broadly unwinding. Trends in food and energy inflation continue to diverge. Food CPI growth slowed further to 3% with grocery inflation […]
21/12/2023

ETHUSD Attempts to Erase Recent Pullback

ETHUSD forms structure of lower highs and lower lows But the latest rebound advances above previous high Momentum indicators suggest strengthening positive bias ETHUSD (Ethereum) had experienced a strong rally since late October, which propelled the price to a fresh 19-month peak of 2,403 on December 9. Although the latter was followed by a pullback, the […]