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USDJPY tries to surpass the 23.6% Fibonacci MACD and RSI gain momentum USDJPY is challenging the 23.6% Fibonacci retracement level of the down leg from 161.94 to 139.56 at 144.80, as well as the very short-term downtrend line, creating a bullish correction from the 14-month low of 139.56. The technical oscillators are currently mirroring the market’s […]

The post USDJPY Flirts With Short-Term Diagonal Line appeared first on Action Forex.

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08/04/2024

EURUSD Undecided Near Converging SMAs

EURUSD fluctuates near its 50- and 200-day SMAs Forms two successive doji candles, unable to adopt a direction Momentum indicators strengthen but remain negative EURUSD experienced an aggressive decline before finding its feet at 1.0722, a region that also held strong in February. Despite its attempt to rebound, the pair has met strong resistance at the congested […]
17/05/2024

Pound Edges Lower, Markets Eye FedSpeak

The British pound is down slightly on Friday. GBP/USD is down 0.14%, trading at 1.2648 in the European session at the time of writing. It has been a good week for the pound, which has gained 1% against the US dollar. Wednesday’s inflation release showed CPI dipping in April, reversing the trend of the past […]
23/01/2024

CADJPY Wave Analysis

CADJPY reversed from key resistance level 110.00 Likely to fall to support level 109.50 CADJPY currency pair recently reversed down from the key resistance level 110.00, which stopped the previous wave (B) in the middle of November, as can be seen below. The resistance level 110.00 was strengthened by the upper daily Bollinger Band. The […]