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Yen strength continued to persist reinforced by an uptick seen in the leading Tokyo’s core-core inflation rate as it rose to 1.9% y/y in November. Japan’s overnight swap rates have indicated an increase in odds that BoJ may hike its short-term policy interest rate again in the upcoming 18-19 December meeting. Watch the 149.30 intermediate […]

The post USD/JPY Technical: Potential Start of a Medium-Term Corrective Decline appeared first on Action Forex.

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17/05/2024

Elliott Wave Expects Silver (XAGUSD) Pullback to Find Support

Short Term Elliott Wave in Silver (XAGUSD) suggests the metal rallies in impulsive structure from 10.3.2023 low. Up from there, wave (1) ended at 25.91 and dip sin wave (2) ended at 21.94. The metal then extended higher in wave (3) towards 29.79. Pullback in wave (4) ended at 26.02 as the 1 hour chart […]
16/01/2024

Canadian Dollar Lower Ahead of CPI Data

Canada’s inflation rate expected to rise to 3.4% Inflation expectations for businesses ease The US dollar has posted gains against all of the major currencies on Tuesday. In the European session, USD/CAD is trading at 1.3494, up 0.50%. January hasn’t been kind to the Canadian dollar, which is down 1.8% this month against the greenback […]
02/08/2024

USD/JPY Dips Below 150.00 as Bears Take Over

Key Highlights USD/JPY declined heavily and even traded below 150.00. A connecting bearish trend line is forming with resistance at 151.80 on the 4-hour chart. EUR/USD could extend losses below the 1.0820 level. Gold gained pace and climbed above the $2,450 level. USD/JPY Technical Analysis The US Dollar started a fresh decline from well above […]