USD/JPY Outlook: Larger Bulls Returning to Play After Shallow Correction

The ISM Manufacturing Index slipped further into contractionary territory in May, dipping to 48.7 from 49.2 in April, disappointing expectations for a marginal gain. The contraction also became more broad based, with 55% of manufacturing GDP having contracted in May, up from 34% in April. Demand slowing was reflected by the new orders index dropping […]

EURJPY broke key resistance level 158.40 Likely to rise to resistance level 160.95 EURJPY currency pair recently broke through the key resistance level 158.40 (which stopped the previous waves 1 and b, as can be seen below) intersecting with the 50% Fibonacci correction of the downward impulse from November. The breakout of the resistance level […]

EURJPY stabilizes after Japan-driven volatile session Bears wait for action below the 167.20 support area Eurozone’s flash CPI inflation due at 09:00 GMT EURJPY rose rapidly to an almost 40-year high of 171.56 on Monday thanks to a suspected intervention from Japanese authorities. But the spike faded immediately, with the price diving to a low […]