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The Japanese yen has edged higher on Wednesday. In the European session, USD/JPY is trading at 151.17, down 0.26%. Yen falls to 34-year low, will Tokyo intervene? The Bank of Japan raised interest rates last week for the first time since 2007. The move marked a sea-change in monetary policy. However, the tightening has not […]

The post USD/JPY Slides to Lowest Level Since 1990 appeared first on Action Forex.

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24/07/2024

Sunset Market Commentary

Markets Monthly PMI’s were the headline story on global markets. EMU surveys at least were no happy reading. The composite EMU HCOB PMI declined from 50.9 to 50.1 suggesting an near standstill in activity. The decline was mainly driven by a deepening contraction in German manufacturing (42.6). France also stays in sub-50 territory (composite 49.5), […]
22/12/2023

USDCHF Hits 2023 Floor

USDCHF tests July’s eight-year low Sellers might stay in power, but not for long Core PCE inflation due at 13:30 GMT It was another bearish week for USDCHF, with the price fully retracing its July-September upleg to reach July’s eight-year low of 0.8551. There is potential for an upside reversal around the 2023 floor of […]
06/08/2024

Oil (CL) Should Continue Lower to Build an Impulsive Structure

Short Term Elliott Wave View in Oil (CL) suggests that cycle from 4.12.2024 high is in progress as a 5 waves impulse Elliott Wave structure. Down from 4.12.2024 high, wave (1) ended at 72.48 and rally in wave (2) ended at 84.55. The commodity has turned lower in wave (3) with internal subdivision as another […]