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USDJ/PY maintains a tight horizontal move for the second month. Resistance at 148.60, support at 146.90. USD/JPY held stubbornly within the tight 146.90–149.00 range despite the recent NFP-driven turbulence that caused a flash drop to 146.29. However, with the sideways move now stretching into its eighth consecutive week and the clock ticking down to today’s […]

The post USD/JPY Stuck in a Range, But for How Long? appeared first on Action Forex.

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USD/JPY Pauses After Volatility: Assessing the Path Ahead

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18/10/2024

Week Ahead – BoC to Speed Up Rate Cuts; Flash PMIs Eyed for Growth Clues

Bank of Canada meets; may opt for bigger 50-bps cut October flash PMIs to set the mood amid some growth concerns A relatively quiet week otherwise, with mostly second-tier releases BoC to likely cut by half a point Expectations that the Bank of Canada will cut rates by 50 basis points at its October meeting […]
18/03/2024

USD/JPY: JPY Plummeted, Ignoring the Possibility of a More Hawkish BoJ

The price actions of the USD/JPY have reacted negatively right below the 150.70 key resistance as highlighted in our previous analysis and shed -435 pips/-2.9% to print a recent intraday low of 146.48 on 8 March. Thereafter, the USD/JPY has drifted higher to trade back above the 148.00 psychological level in light of the “not […]
04/02/2025

Mexico and Canada Dodged US Tariff Bullet at the Very Last Moment

Markets Mexico and Canada dodged the US tariff bullet at the very last moment. At least for now. Tariffs will be paused for a 30 day period to see whether or not a final deal can be structured with both countries over border control and the fentanyl crisis. Canadian PM Trudeau is pushing through with […]