GBPJPY had been stuck in a prolonged uptrend since the beginning of the year, generating a structure of consecutive multi-year highs. However, the pair has been experiencing a downside correction in the short term after posting a fresh 7½-year peak of 183.99, with the price breaching a crucial ascending trendline. The momentum indicators currently suggest that […]
The post GBPJPY Battles With 50-SMA after Violating Crucial Trendline appeared first on Action Forex.
The market exuberance that erupted after the Nov. 5 election is still going strong, even if the some of biggest stocks seemed to lose a step or two. Nvidia (NVDA) reported great earnings on Wednesday, Read more…
EUR/USD’s decline from 1.1213 continued last week and accelerated to as low as 1.0330. There is no sign of bottoming yet and initial bias stays on the downside this week. Sustained trading below 1.0404 key Read more…
USD//JPY stayed in consolidation below 156.74 last week. and initial bias stays neutral this week first. On the downside, break of 153.27 will bring deeper correction to 38.2% retracement of 139.57 to 156.74 at 150.18. Read more…