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The Japanese yen has posted sharp losses on Wednesday. In the European session, USD/JPY is trading at 152.67, up 1.06% at the time of writing. The yen is down 2.1% this week and has plunged 6.3% in October. IMF slashes Japan’s growth forecast The International Monetary Fund slashed its 2024 growth forecast for Japan to […]

The post Yen Slides as IMF Cuts Japan’s Growth Estimate appeared first on Action Forex.

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30/04/2024

GBPUSD Battles With 200-Day SMA

GBPUSD rebounds strongly from a 5-month bottom But meets strong resistance at 200-day SMA Momentum indicators improve but remain neutral-to-negative GBPUSD experienced a vast decline after posting a fresh 2024 high of 1.2892, generating a clear structure of lower highs and lower lows. Although the pair has been attempting a recovery in the past few sessions following […]
03/02/2024

Weekly Focus – Wait and See Mode in Central Banks

In a week with no big data or central bank surprises, renewed fears of turmoil in the US banking sector on the back of the free fall of the New York Community Bancorp (NYCB) stock, drove longer dated yields lower as markets largely ignored hawkish Fed comments. With decent macro data and declining inflation as […]
06/05/2024

EURGBP Wave Analysis

EURGBP reversed from support zone Likely to rise to resistance level 0.8625 EURGBP recently reversed up from the support zone lying between the key support levels 0.8500, 0.8550 and the lower daily Bollinger Band. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Morning Star Doji. EURGBP can be expected […]