USD/JPY dips to three week low on Monday and hit Fibo 76.4% retracement of 141.68/149.40 corrective upleg, adding to signals that correction of larger downtrend is close to its end. Strong drop last week (2.1%) completed a bearish engulfing pattern and registered weekly close below 100WMA (144.59), generating fresh bearish signal and setting scope for […]
The post USD/JPY Outlook: Mal Fall Further After Completion of Corrective Phase appeared first on Action Forex.
Key Highlights EUR/USD extended losses and tested the 1.0500 support. A key bearish trend line is forming with resistance at 1.0585 on the 4-hour chart. GBP/USD also extended losses and traded below the 1.2720 support. Read more…
BoJ Governor Kazuo Ueda reiterated in a speech today that the central bank remains committed to its gradual policy tightening path, conditional on the realization of its economic and price outlook. However, the timing of Read more…
New Zealand’s BusinessNZ Performance of Services Index rose slightly from 45.7 to 46.0 in October. Despite the marginal improvement, the index stayed well below the 50 threshold, indicating ongoing contraction in the sector for a Read more…