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Key Highlights USD/JPY declined heavily before the bulls appeared near 152.00. A major bearish trend line is forming with resistance at 155.50 on the 4-hour chart. Crude oil prices remain at risk of more downsides toward $75.00. Ethereum saw bearish moves and might continue lower. USD/JPY Technical Analysis The US Dollar started a major decline […]

The post USD/JPY Recovery Faces Challenges: What to Watch For appeared first on Action Forex.

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08/04/2024

Euro Edges Lower, German Industrial Production Jumps

The euro is calm at the start of the trading week. In the North American session, EUR/USD is trading at 1.0830, down 0.07%. German industrial production rises 2.1% Is the German economy coming out of a downswing? The week started on a positive note as industrial production jumped 2.1% y/y in February, up from a […]
02/07/2024

USD/JPY Rises Up After GDP Downgrade

The Japanese yen has dropped below the 161 line on Monday. The yen is trading at 161.39 early in the North American session, down 0.35% on the day. Japan’s GDP revised sharply lower Japan revised its first-quarter GDP report to -2.9%, y/y, sharply lower than the initial reading of -1.8%. On a quarterly basis, GDP […]
04/01/2024

USDCAD Wave Analysis

USDCAD reversed from key support level 1.3200 Likely to rise to resistance level 1.3400 USDCAD currency pair recently reversed up from the key support level 1.3200 (which reversed the price multiples times in the middle of 2023, as can be seen below). The support level 1.3200 was further strengthened by the lower daily Bollinger Band […]