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USDJPY remains below 157.70 Uptrend line acts as strong support Momentum oscillators show contradicting signs USDJPY is still developing below the 157.70 resistance level and well above the medium-term ascending trend line, failing to have a notable movement after the US CPI data and the Fed decision on Wednesday. The technical oscillators are showing some […]

The post USDJPY Holds Within Narrow Range in Near Term appeared first on Action Forex.

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21/03/2024

WTI Crude Oil Futures Slip from 4-Month Peak

WTI crude oil looks positive despite the latest drop 20- and 200-day SMAs post bullish cross MACD and RSI show positive signs WTI crude oil futures are easing after the climb towards the new four-month high of 83.11 but the broader outlook remains bullish, especially after the rally above the 80.00 round number. According to […]
18/04/2024

EUR/USD: Holds Grip But Recovery Still Requires Confirmation

The Euro remains constructive and ticks higher in early Thursday after Wednesday’s 0.5% bounce from new multi-month low, but initial reversal signal still needs more evidence to be validated, as daily studies are predominantly bearish. Another strong bullish daily close is needed to keep in play hopes of stronger recovery, with close above pivots at […]
26/01/2024

Foreign Central Banks Take Center Stage

Summary It was a busy week for foreign central banks, with several offering their first monetary policy assessment of 2024. The Bank of Japan held monetary policy unchanged, but its announcement and updated economic forecasts kept it on track for an April rate hike, in our view. The Bank of Canada’s announcement was modestly dovish […]