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The USD/JPY pair declined to 155.13 on Friday, as the yen gained robust support following the Bank of Japan’s (BoJ) decision to raise its interest rate during the January meeting. BoJ’s interest rate hike and economic outlook The BoJ increased the cost of borrowing by 25 basis points, bringing the benchmark interest rate to 0.5% […]

The post Japanese Yen Strengthens as Interest Rate Reaches Highest Level Since 2008 appeared first on Action Forex.

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03/10/2024

NZDUSD Retreats Below Short-Term Uptrend Line

NZDUSD pulls back from its 15-month top Stochastic tumbles to oversold region RSI falls near 50 level NZDUSD lost more than 2% following the pullback from the 15-month high of 0.6380, flirting with the short-term ascending trend line and the 20-day simple moving average (SMA). In the previous days, the 50- and 200-day SMAs posted […]
13/02/2024

Brent Crude Prices Edge Higher Amid Middle East Tensions

Brent crude oil prices are currently hovering around $82.00 per barrel this Monday, with market sentiment influenced by recent developments in the Middle East. Although concerns over disruptions to energy supplies from the region have somewhat subsided, the possibility of supply disturbances continues to support oil prices. The rejection of a ceasefire offer by Israel […]
19/09/2024

USD/CAD Eyes Additional Gains, Fed Slashes Rates By 0.5%

Key Highlights USD/CAD started a decent increase above the 1.3500 resistance. A key bullish trend line is forming with support at 1.3550 on the 4-hour chart. GBP/USD remained in a bullish zone above the 1.3150 level. The Fed reduced interest rates from 5.50% to 5.00%. USD/CAD Technical Analysis The US Dollar found support near the […]