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USDJPY attacked again pivotal 150 barrier (psychological / bear-channel upper boundary / 30 DMA) in early Wednesday, offsetting initial negative signal from Tuesday’ bearish inverted hammer that was formed after strong upside rejection just under 150 zone. Yen was deflated by BoJ’s decision to keep interest rates unchanged at 0.5%, as policymakers responded to growing […]

The post USD/JPY Outlook: Near-Term Recovery Faces Headwinds from Pivotal 150.00 Resistance appeared first on Action Forex.

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22/10/2024

GBPUSD Elliott Wave Double Three Correction in Progress

After forming the low on September 26, 2022 low, GBPUSD shows an incomplete higher high bullish sequence. This suggests the right side is higher and dips therefore should see support in 3, 7, or 11 swing. The pair is currently correcting cycle from 10.4.2023 low. Internal subdivision of the correction is unfolding as a double […]
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