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USDJPY regained traction in early trading on Monday but remains with the recent range and looks for firmer direction signal. Near term bias is expected to remain bullish while the price action stays above rising daily Tenkan-sen (149.16) which contained today’s dip, but the upside attempts were so far limited. Probes through psychological 150 barrier […]

The post USD/JPY Outlook: Violation of Pivotal Points to Generate Fresh Direction Signals appeared first on Action Forex.

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14/10/2024

Sunset Market Commentary

Markets Chinese stock markets eventually closed 2% to 3% higher, giving the benefit of the doubt to further steps to support the property sector and hints at greater borrowing announced by Finance Minister Lan Fo’an on Saturday. Beijing didn’t disclose a headline figure, but measures got the thumbs up for now. The Chinese yuan failed […]
28/08/2024

Happy Nvidia day

The markets were calm yesterday, the European stocks extended gains, while the S&P500 and Nasdaq consolidated a bit lower than their ATH levels. A $69bn sale of US 2-year debt went well, the US 2-year yield extended losses and the US dollar rebounded from the lowest levels of the year. Crude oil, which rallied to […]
29/05/2024

GBP/USD: Possible Price Adjustment Before Final Break Through 1.2800 zone

Cable firmed in early Wednesday’s trading after hitting nine-week high on Tuesday (1.2800), but subsequently pulling back on unexpectedly strong rise in US consumer confidence in May, which temporarily inflated dollar. Broken Fibo barrier at 1.2753 (76.4% of 1.2893/1.2299) reverted to solid support (reinforced by 5DMA, which so far holds dips, however risk of deeper […]