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Today’s focus is on the Bank of Japan’s decision to maintain its current policy stance, which has led to a depreciation of the Japanese Yen. Consequently, the USD/JPY pair is on an upward trajectory, seeking higher resistance levels. Although this trend may extend further, there is an anticipation of a potential downturn in 2024. Ueda’s […]

The post USD/JPY Remains Trapped in a Correction Following BoJ appeared first on Action Forex.

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USD/JPY: Strong Acceleration After Dovish BoJ Deflated Yen

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16/06/2024

Forex and Cryptocurrency Forecast

EUR/USD: Hawkish Sentiments of the Fed As expected, the key day of last week was Wednesday, 12 June. After the publication of inflation data in the USA, the dollar came under strong pressure. Fresh figures showed that in May, the overall inflation rate (CPI) in annual terms decreased to 3.3% compared to the expected 3.4%. […]
28/10/2024

GBP/AUD and GBP/NZD Pairs Step Into Final Leg of a Recovery

GBPAUD pair is now breaking out of a projected bullish abcde running triangle pattern. And, because of a break out of a triangle, it means it’s breaking ouf wave (b) into a wave (c) of a corrective recovery, but there can be still space up to around 1,97 area before it finds the resistance. GBPAUD […]
03/09/2024

September Caution

The new week started with caution. The US and Canada were off, and news from Europe weren’t exceptional. The data released on Monday showed that the manufacturing PMI figures for August were slightly higher than expected, but numbers in major Eurozone countries remained below 50, in the contraction zone for another month. The German manufacturing […]