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USDJPY under the bullish pressure Likely to rise to resistance level 156.35 USDJPY currency pair under the bullish pressure after the earlier breakout of the major resistance level 151.80, former yearly high from 2022 and 2023. The breakout of the resistance level 151.80 accelerated the C-wave of the active ABC correction (B) from the start […]

The post USDJPY Wave Analysis appeared first on Action Forex.

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19/08/2024

USD/JPY Outlook: Japanese Yen Regains Traction vs Dollar on Renewed Expectations for Dovish Fed

USDJPY dips further on Monday, adding to signals that corrective phase off 141.68 (Aug 5 spike low) is likely over. Upleg from 141.68 was repeatedly capped at pivotal Fibo barrier at 149.36 (38.2% retracement of 161.80/141.68) with subsequent weakness being sparked by renewed risk appetite. Yen also appreciates on signals that gap between policies of […]
03/04/2024

All Eyes on Euro Area Inflation

In focus today In the US, March ADP private sector employment and ISM Services are due for release. Yesterday’s labour market data supported the notion of labour markets gradually becoming more balanced. Hence, it will be interesting to see if today’s data corroborates this view. In the euro area, today’s focus is on euro area […]
29/11/2023

EUR/USD: Bulls Taking Breather After Cracking Psychological 1.1000 Barrier

EURUSD is consolidating under new multi-week high on Wednesday, after bulls cleared pivotal Fibo resistance at 1.0959 (61.8% of 1.1275/1.0448 downtrend) and cracked psychological 1.10 barrier. The Euro received fresh support from expectations that the Fed is done with rate hikes and rising bets for start of cutting interest rates in the first half of […]