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Key Highlights USD/JPY dived over 250 pips from the 161.80 resistance zone. It traded below a key bullish trend line with support at 160.90 on the 4-hour chart. The US CPI slowed more than expected and came in at 3% in June 2024 (YoY). There were speculations of BOJ’s intervention after USD/JPY declined over 2%. […]

The post USD/JPY Plummets After US CPI Release: Is BOJ Stepping In? appeared first on Action Forex.

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05/01/2024

EUR/USD Slips, Eurozone Inflation Rises

Eurozone inflation rises, core rate dips US nonfarm payrolls expected to drop to 177,000 The euro is in negative territory on Friday. In the European session, EUR/USD is trading at 1.0908, down 0.33%. Eurozone inflation rises to 2.9% Eurozone inflation has been falling and dropped to 2.4% y/y in November, within striking distance of the […]
03/04/2024

US 500 Index Retreats from Record High

US 500 faces downside pressures for the second consecutive day More weakness possible, but key support levels are nearby The US 500 stock index (cash) opened negative on Tuesday, strengthening its negative momentum towards its 20-day exponential moving average (EMA), which has been buffering downside movements since the start of the year, around 5,185. With […]
10/01/2024

GBP/USD: Near-Term Action Lacks Clearer Direction Signal But Overall Still Bullishly Aligned

Cable is holding around 1.2700 mark in early Wednesday, following a triple upside rejection at 1.2770 zone. Larger picture shows the pair trading below the middle of the range (1.2610/1.2827) which extends into fourth consecutive week and capped by 200WMA (1.2837). Daily studies are mixed as MA’s remain bullishly aligned, but momentum is turning negative, […]