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In the last four weeks, the US dollar has weakened significantly against several major currencies, such as the euro, which rallied to a 4-year peak against the greenback on Tuesday, 16 September, but the bearish momentum of the US dollar has lagged against the Japanese yen (see Fig. 1). Fig. 1: 1-month rolling performance of […]

The post USD/JPY Technical: Yen Eyeing a Medium-Term Bullish Breakout Against USD from a 5-month Range appeared first on Action Forex.

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22/12/2023

USD/JPY Remains In Downtrend, US GDP Disappoints At 4.9%

Key Highlights USD/JPY failed to clear the 145.00 resistance zone and declined. A major bearish trend line is forming with resistance at 144.00 on the 4-hour chart. EUR/USD and GBP/USD remained in a positive zone and eye more gains. The US GDP grew 4.9% in Q3 2023, less than the market forecast of 5.2%. USD/JPY […]
16/05/2025

Sunset Market Commentary

Markets “Time to go back home”. US President Trump wrapped up his road trip through the Middle-East, sealing substantial business and defense contracts with Saudi Arabia, Qatar and the United Arab Emirates. Those agreements cover slightly over €1tn with (Qatari) plans to significantly increase them further. The investment deals helped lift spirits on (US) equity […]
21/05/2025

Elliott Wave Analysis: EURUSD 5-Wave Rally Confirms Bullish Trend

The short-term Elliott Wave analysis for EURUSD indicates that the correction from the April 21, 2025, high has concluded with wave (4) at 1.1059. From the wave (3) peak, the decline unfolded as follows: wave W ended at 1.1265, wave X at 1.1381, and wave Y, structured as a zigzag, completed at 1.1059. Within wave […]