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USD/JPY remains in focus ahead of the last week of June 2024, trading near resistance around 159.00 but unable to sustain a breakout amid intervention concerns from Japan. The pair stays supported by US economic strength and Fed’s cautious rate-cut messaging, while the Bank of Japan maintains ultra-loose policy. Key levels to watch this week include support near 156.70 and resistance at 160.20–160.30. Technical indicators show bullish momentum but rising caution as RSI nears overbought conditions. Intervention risk and yield differentials will likely dictate price action going forward.

GBP/USD heads into a critical week as it navigates major technical thresholds. Key support zones near 1.2621 and resistance at 1.2860 define a neutral consolidation phase. A decisive break beyond these levels will set the tone for the medium-term trend. Traders should watch for a sustained move above 1.2860 to confirm bullish momentum or a decline below 1.2500 to signal bearish pressure. More analysis at ActionForex.com.

GBP/USD showed resilience last week, recovering above 1.2700 amid softer US data and a mild dovish Fed tone. Key support at 1.2600 remains critical, with upside targets near 1.2800 and 1.2890. Watch BoE and Fed signals this week for directional cues. (Analysis by ActionForex.com)

U.S. wholesale inventories remained flat in August, defying expectations of a slight increase. This steady reading suggests cautious business sentiment amid supply chain normalization and persistent inflation pressures. Forex markets will watch closely for implications on GDP growth and Fed policy, influencing the U.S. dollar’s trajectory against major currencies.

U.S. wholesale inventories remained unchanged in August, missing expectations of a slight increase. This signals cautious demand and supply chain normalization, influencing Federal Reserve outlook and adding complexity to USD forex dynamics. Traders should monitor inventory trends as indicators of economic momentum and currency sentiment.

GBP/USD buyers push decisively above a key swing level, now testing the 100-hour moving average—a pivotal point for short-term trend confirmation. Sustained strength above this MA could open the door for further gains, while a failure to hold may invite renewed selling pressure. Traders should watch momentum signals closely for next directional clues. Analysis by Justin Low for ForexLive / TradingView.

Understanding Forex trading starts with grasping its fundamentals and strategies. Learn how currency pairs work, the role of major market players, and how leverage and order types impact your trades. Mastering these basics is key to navigating the world’s largest financial market effectively.

Credit: Insights based on Rayner Teo’s YouTube video “Forex Trading for Beginners” (ybmKP9dxQDk).

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Mixed UK PMI data for June 2024 show manufacturing contracting while services continue to expand but at a slower pace. This mixed picture left GBPUSD largely unchanged near 1.2700 as traders await clearer signals on UK growth and central bank direction. Analysis by Sebastian Seliga, XTB Market Analysis.

USD/CAD is holding gains above 1.3720 amid US dollar strength and weaker oil prices pressuring the Canadian dollar. Technical analysis signals potential upside towards resistance at 1.3805 and beyond, while breaks below support may trigger corrections. Market focus remains on macro data and central bank signals shaping the next moves. Detailed insights by Economies.com.