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Key Highlights NZD/USD started a fresh increase above the 0.5620 resistance. A key bullish trend line is forming with support at 0.5670 on the 4-hour chart. EUR/USD is still struggling to clear the 1.0520 resistance zone. GBP/USD could extend gains if it settles above 1.2630. NZD/USD Technical Analysis The New Zealand Dollar formed a base […]

The post NZD/USD Finds Stability—Will The Recovery Continue To 0.6000? appeared first on Action Forex.

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USD/JPY Losses Accelerating to 150 as Investors Brace for Tomorrow’s Japanese Inflation Figures

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29/07/2024

USD/JPY Technical: Potential Mean Reversion Rebound in Progress Above 200-day MA

Last week’s drop of 2.8% seen in the USD/JPY has almost reached a key support of 151.70. An overstretched decline with high volatility on top of an oversold condition increases the odds of a mean reversion rebound scenario for USD/JPY. Watch the potential upside trigger of 154.10 on the USD/JPY. The price actions of the […]
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