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The Japanese yen has posted strong gains on Thursday. In the European session, USD/JPY is trading at 154.34, down 0.70% on the day. Ueda says rate decision will depend on data Bank of Japan Governor Ueda’s remarks are always closely monitored and often move the financial markets. That was the case today as the yen […]

The post Yen Jumps as BoJ’s Ueda Hints at Rate Hike appeared first on Action Forex.

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29/04/2024

USD/JPY: Overextended Intraday Rally Makes It Vulnerable to Squeeze Down With Rumoured Talks of FX Intervention

USD/JPY extended its rally to hit 159.60 key long-term resistance (also the April 1990 secular swing high). Today’s Asian session’s swift upmove in USD/JPY has led to an increase in its volatility condition which increases the risk of FX intervention. Abrupt intraday movement in USD/JPY that wiped out earlier intraday gains has the hallmark of […]
15/01/2024

EUR/USD Could Recover Unless This Level Gives Way

Key Highlights EUR/USD is holding the key 1.0880 support zone. A key rising channel is forming with support at 1.0935 on the 4-hour chart. GBP/USD is consolidating gains near the 1.2750 level. Gold prices could gain pace if it clears the $2,060 resistance level. EUR/USD Technical Analysis The Euro started a fresh decline from the […]
19/03/2024

Aussie Slides After RBA’s Pause

The Australian dollar is sharply lower on Tuesday. In the European session, AUD/USD is trading at 0.6507, down 0.80%. The Aussie is on a nasty slide and has declined by 1.7% since March 13. RBA removes tightening bias The Reserve Bank of Australia maintained the cash rate at 4.35% for a fourth straight time at […]