The USD/JPY currency pair has experienced a significant breakout, surging sharply in Tuesday’s trading session. This move represents a decisive shift in market dynamics, marked by the US dollar overpowering the Japanese yen amid rising uncertainty surrounding the Bank of Japan’s (BOJ) management of its sovereign debt market.  The pair has pushed above a major resistance zone, signaling strong bullish momentum and the possibility of a continued uptrend. Fletrade delivers a well-rounded analysis of the issue through insights from its experienced brokers. Breakout Above Key Technical Resistance On the technical front, Tuesday’s price action in the USD/JPY pair reflected a...

The AUD/USD exchange rate slipped for the third consecutive trading day, closing near 0.6515, following a retreat from its year-to-date high of 0.6590. This decline came amid mixed macroeconomic data from China, Australia’s largest trading partner, and key inflation figures from the United States.  Despite the pullback, the technical setup suggests the pair may be poised for a rebound as it tests a crucial support zone within an ascending channel pattern. In this article, Fletrade brokers unpack the key elements of the topic with clarity and detail. China and US Macro Data Impact The Australian dollar is deeply tied to...

Bitcoin’s remarkable rally took a breather this week as the BTC/USD forex pair pulled back sharply, dropping to 116,000 after peaking at a year-to-date high of 123,288. This correction, driven by technical and fundamental factors, raises the possibility of a deeper decline toward the key support level at 110,000.  Traders are now closely analyzing price action and macroeconomic influences, especially amid the ongoing Crypto Week and increased institutional activity. Fletrade’s expert team dives deep into this subject in their latest publication. Technical Analysis: Shooting Star Signals Bearish Reversal On the daily chart, the BTC/USD pair formed a shooting star candlestick,...

The GBP/USD exchange rate suffered a sharp sell-off this week, plunging from a multi-week high of 1.3790 on July 1 to around 1.3390 at the time of writing. This steep decline in the British pound comes amid renewed dollar strength, driven largely by hotter-than-expected US inflation data.  The forex market is now bracing for more key economic indicators from both the UK and the US, which could further influence the directional bias of the GBP/USD pair. The brokers at Fletrade provide a comprehensive breakdown of this topic in their article. US Inflation Data Boosts the Dollar The most significant driver...