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USDJPY drifts back below 147.00 area; tests support trendline Technical picture signals bearish trend continuation USDJPY was unable to maintain its strength on Tuesday despite briefly surpassing the 147.00 level, as the 20-day exponential moving average (EMA) caused a retreat towards the support trendline from July 2023 at 144.75. The technical indicators cannot guarantee an immediate bullish rotation as […]

The post USDJPY Trapped in a Gloomy Trajectory appeared first on Action Forex.

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22/03/2024

Technical Outlook and Review

DXY: The dollar index (DXY) chart currently demonstrates an overall bullish momentum. In this context, there is a potential scenario for price to rise towards the pivot before potentially making a bearish reaction and pull back towards the 1st support. The pivot level at 104.18 is identified as an overlap resistance where price could potentially […]

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