ActionForex

Markets opened rather steady this week with mild strength in Kiwi and Aussie. The New Zealand dollar is lifted by PPI data. PPI outputs rose 1.0% qoq in Q2 versus expectation of 0.7% qoq. That's a...

GBP/JPY Daily OutlookDaily Pivots: (S1) 151.41; (P) 152.32; (R1) 153.16; Intraday bias in GBP/JPY remains mildly on the upside for the moment. Rise from 147.61 is extending the consolidation pattern...

US equities tumbled overnight on further speculation on fed's tapering and took the greenback lower. The Dowe plunged -225.47 pts to close at 15112.19 and more importantly, it took out the 55 days EMA...

GBP/JPY Daily OutlookDaily Pivots: (S1) 151.32; (P) 151.94; (R1) 152.71;Intraday bias in GBP/JPY remains mildly on the upside for the moment. Rise from 147.61 is extending the consolidation pattern...

Dollar weakened overnight after St. Louis Fed Bullard warned that FOMC members "have tended to be too optimistic over the last several years," and "caution is warranted in taking policy action based...

GBP/JPY Daily OutlookDaily Pivots: (S1) 150.27; (P) 151.17; (R1) 152.61;The break of 151.31 indicates that pull back from 154.04 has completed at 147.61 already. Intraday bias is back on the upside....

Dollar strengthened overnight as markets are starting to build a consensus that Fed will taper the bond purchase in September. According to a Bloomberg survey, 65% of economists expected Fed to reduce...

GBP/JPY Daily OutlookDaily Pivots: (S1) 149.14; (P) 149.52; (R1) 150.21;GBP/JPY's rebound further from 147.61 and focus is back on 151.53 resistance. Break will indicate that fall from 154.04 has...

Yen weakens broadly today as Nikkei rises over 200pts on news that prime minister Abe is considering a corporate tax cut to offset the impact of the planned sales tax hike. The news came after...

GBP/JPY Daily OutlookDaily Pivots: (S1) 148.63; (P) 149.63; (R1) 150.21; No change in GBP/JPY's outlook. With 151.53 resistance intact, we're holding on to the bearish view. That is, fall from 154.04...

Yen edged higher after much weaker than expected GDP report from Japan prompted selling in Nikkei. But the moves quickly lost steam as yen retreats which Nikkei recovers. Nikkei dropped to a six week...

Dollar depreciated broadly last week as markets continued to gauge the chance of Fed's tapering in September. A number of Fed officials spoke and it seemed like most would accept scaling back the...

Australian dollar extends this week's rebound after stronger than expected production data from China. Industrial production rose 9.7% yoy in July versus consensus of 8.8% yoy. Retail sales was...

GBP/JPY Daily OutlookDaily Pivots: (S1) 149.33; (P) 149.82; (R1) 150.71;At this point, we're still favoring the bearish case that fall from 154.04 is resuming whole decline from 156.77. Below 147.61...

GBP/JPY Daily OutlookDaily Pivots: (S1) 147.62; (P) 149.15; (R1) 150.72;At this point, we're still favoring the bearish case that fall from 154.04 is resuming whole decline from 156.77. Below 147.61...

Yen stays firm after BoJ left policies unchanged at widely expected. Interest rate was held at near zero level while BoJ also maintained the pledge to expand the monetary base by JPY 60T to 70T a...