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USDJPY in a recovery mode after pullback halts at 50-day SMA Momentum indicators are softening but remain in bullish zones USDJPY experienced a strong setback from its 34-year high of 160.20 following an intervention by Japanese authorities in late April. However, the pair has slowly but steadily recouped a significant part of these losses, attempting to revisit […]

The post USDJPY Reapproaches Multi-Year Highs appeared first on Action Forex.

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08/03/2024

Focus Turns to the US and Nonfarm Payrolls

In focus today In the US, we get the February jobs report today. We see downside risks to the non-farm payrolls and expect employment growth of +180k and see average wages to have risen 0.2% m/m seasonally adjusted. Whilst February data points received thus far have been mixed, we expect labour market conditions to gradually […]
29/05/2024

EUR/USD Slips as USD/CHF Targets Upside Break

EUR/USD started a downside correction from the 1.0890 resistance. USD/CHF is rising and might aim a move toward the 0.9155 resistance. Important Takeaways for EUR/USD and USD/CHF Analysis Today The Euro struggled to clear the 1.0890 resistance and declined against the US Dollar. There was a break below a key bullish trend line with support […]
14/03/2024

March Flashlight for the FOMC Blackout Period

Summary We do not expect the FOMC to change the federal funds rate or alter its current pace of balance sheet runoff at its upcoming meeting on March 19-20. Since the Committee last met, the U.S. inflation data have come in a bit stronger than expected, while the labor market generally has remained resilient. With […]