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This week has raised alarm bells for USD/JPY market participants who are trading the bullish momentum that has been going on since early 2024 (shown in the blue curved lines on the USD/JPY chart): → Vice Finance Minister Masato Kanda warned against “excessive volatility” in currency markets, hinting that the yen had weakened too much. […]

The post USD/JPY Technical Analysis: Yen Strengthens after Comments from Japanese Officials appeared first on Action Forex.

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02/01/2024

EUR/GBP Discovers Support Near 0.8650 on Downbeat UK factory Data

EUR/GBP rebounds from 0.8650 on weaker-than-projected UK factory data. The outlook of the UK manufacturing sector remains gloomy due to deepening cost of living crisis. German HICP is seen significantly higher in December. The EUR/GBP pair finds cushion near 0.8650 after the United Kingdom S&P Global Manufacturing PMI data for December failed to meet expectations. […]
20/05/2024

Australian Dollar Eyes RBA Minutes

The Australian dollar is unchanged at the time of writing, trading at 0.6692 in the European session. There are no economic releases out of the US or Australia today, which should translate into a quiet day for AUD/USD. The Aussie is coming off an excellent week, gaining 1.36% and hitting its highest level since January. […]
17/10/2024

Bitcoin Price Set to Reach New High Before US Elections

According to the BTC/USD chart, Bitcoin’s price reached $68,000 in mid-October, a level not seen since late July. Can this upward momentum continue? Jeff Kendrick, head of digital asset research at Standard Chartered Bank, predicts that Bitcoin could rise to $73,800 before the US presidential elections in November, which would mark a new all-time high. […]