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USDJPY heads north with first resistance at 20-day SMA RSI and Stochastics confirm upside movement USDJPY has reversed back up again after the strong rebound off the medium-term uptrend line and the 50-day simple moving average (SMA), meeting the 23.6% Fibonacci retracement level of the up leg from 140.20 to 160.20 at 155.50. Momentum indicators […]

The post USDJPY Recoups Losses After Bounce Off Rising Line appeared first on Action Forex.

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05/08/2024

Aussie Slides on Fears Over the US Economy

The Australian dollar has taken a nasty spill to start off the trading week. AUD/USD dropped as much has 2.5% in the Asian session and fell to its lowest levels since November 2023. The Aussie has pared those losses and is down 0.96% at the time of writing, trading at 0.6448. RBA likely to deliver […]
30/05/2024

WTI Crude Oil Erases Gains Below 80.00

WTI crude oil finds resistance at 200-day SMA Stochastics and RSI head south WTI crude oil futures with delivery in July have failed to surpass the 80.00 level once again and are currently returning below the 200-day simple moving average (SMA). The price has been developing within a narrow range of 76.58-80.00 since the beginning […]
15/05/2024

Will Today’s CPI Echo the PPI Print?

In focus today In the US, the focus will be on April CPI. We forecast headline inflation at +0.4% m/m SA, as energy inflation has been boosted by rising oil prices. Core inflation is likely to tick slightly lower to 0.3% m/m SA, driven especially by further disinflation in housing services. Recently, leading data has […]