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Bears returned to play and fully reversed the recent bounce from new multi-month low (144.55), with strong bearish signals being developed on daily chart (double recovery rejection / bull-trap above converged daily Tenkan/Kijun-sen). Deterioration outlook on the latest sharp increase of tariffs for all Chinese imports to the US and anticipated adequate counter measures from […]

The post USDJPY Reruns to Full Bearish Mode on Fresh Risk Aversion appeared first on Action Forex.

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15/10/2024

Sunset Market Commentary

Markets The release of labour market data kicked off a triptych of key UK data that should help clarify whether the time is right for the BoE to move to a ‘more activist approach’ when it comes to reducing policy restriction. The employment report didn’t change (money) markets’ positioning in any profound way (> 90% […]
20/02/2024

EURJPY on the Rise Above 162.00, But for How Long?

EURJPY posts new 3-month high Momentum indicators are gaining ground Positive structure remains intact above short- and long-term diagonal lines EURJPY is skyrocketing above the 162.00 round number, recording a fresh three-month high. The market is completing a strong bullish rally after the bounce off the 158.90 support level, posting the tenth consecutive green day. […]
02/10/2024

Tensions Escalating in Middle East

In focus today In the US, ADP private sector employment growth will provide some early hints of what to expect from Friday’s NFP release – consensus expects a modest rebound from August. In the euro area, we receive the unemployment rate for August. Recently, we have seen the first signs of a cooling in the […]