ActionForex

The Japanese yen recovers broadly on profit taking and risk aversion today. Meanwhile, dollar is also mildly firmer against other major currencies. Asian equities are broadly lower today as China...

After edging higher to 109.83 last week EUR/JPY formed a short term top there and turned into sideway consolidation. Initial bias remains neutral this week and some more consolidation could be seen....

GBP/JPY's rally extended to as high as 130.10 last week but continued to lose upside momentum with mild bearish divergence condition in 4 hours MACD. There is no clear sign of topping yet and thus,...

Price actions in the fx markets last week were quite complicated as several themes had impacts simultaneously. Firstly Euro was sold off steeply after ECB's three year LTRO result as the event...

GBP/JPY Daily OutlookDaily Pivots: (S1) 128.89; (P) 129.24; (R1) 129.73;GBP/JPY's break of 129.65 indicates that recent rise has resumed and intraday bias is back on the upside for 61.8% retracement...

The Japanese yen weakens today and looks set to extend recent decline against most major currencies. Indeed, GBP/JPY and AUD/JPY have taken out recent high already. BoJ Governor Shirakawa pledged...

GBP/JPY Daily OutlookDaily Pivots: (S1) 128.10; (P) 128.86; (R1) 129.91;In spite of the strong rebound, GBP/JPY is still limited by 129.65 resistance and hence, intraday bias remains neutral. Some...

Dollar remains generally firm today after overnight rebound. The disappointment over lack of hints of QE3 from Bernanke sent gold sharply lower and pressured stocks. Gold subsequently breached 1700...

GBP/JPY Daily OutlookDaily Pivots: (S1) 126.99; (P) 127.61; (R1) 128.54;GBP/JPY is still consolidating below 129.65 temporary top and intraday bias remains neutral. Some more sideway trading might be...

Euro remains cautiously firm against dollar as markets are awaiting ECB to announce the result of the second ultra-long three year LTRO allotment, which should be released at around 1015 GMT. In the...

GBP/JPY Daily OutlookDaily Pivots: (S1) 126.41; (P) 128.07; (R1) 129.20;A temporary top is in place in GBP/JPY at 129.65 and intraday bias is turned neutral for the moment. Some consolidations would...

Euro's profit-taking retreat yesterday was rather brief. EUR/USD continues to stay firmly above 1.34 level so far today. Despite the new bailout fund, Greece's outlook has not turned any better....

GBP/JPY Daily OutlookDaily Pivots: (S1) 125.51; (P) 125.85; (R1) 126.25;GBP/JPY edges higher to 129.65 so far today and intraday bias remains on the upside for 61.8% retracement of 140.02 to 116.83 at...

The G-20 meeting over the weekend triggered little reactions in the markets today. The main topic of the G-20 summit was on resolving the sovereign debt crisis in the Eurozone. Whilst the countries...

EUR/JPY's rally from 97.03 accelerated to as high as 109.23 last week. The strong break of the near term falling trend line resistance indicates that fall from 123.31 has likely finished on bullish...

GBP/JPY's rally from 117.28 accelerated to as high as 128.95 last week and took out mentioned 50% retracement of 140.02 to 116.83 at 128.42. The stronger then expected rise indicates that fall from...