Forex Top Team

USD/JPY (US Dollar/Japanese Yen) – Buy, Focus Currency and Technical Analysis (15-Minute Chart) February 28, 2024:

 

USD/JPY pair has shown a slight uptrend during the Asian session, testing the breakout at 150.60, recovering from the low on February 22.

Traders are awaiting the release of major US economic statistics today.

EUR/USD (Euro/US Dollar) – Strong Sell: The EUR/USD pair is experiencing a slight decline, extending the correction momentum from the local high on February 22. Today, the EU is set to release February statistics on economic sentiment levels, but it is not expected to have a significant impact on the currency pair’s movement.

GBP/USD (British Pound/US Dollar) – Strong Sell: The GBP/USD pair is showing a downward trend, retracing from the local high set last week on February 2. Traders are waiting for the release of US statistics such as Personal Consumption Expenditure Price Index.

NZD/USD (New Zealand Dollar/US Dollar) – Sell: The NZD/USD pair has recently shown a corrective trend, retreating from the local high set on January 15. Trader focus is on the outcome of the Reserve Bank of New Zealand (RBNZ) meeting.

XAU/USD (Gold/US Dollar) – Buy: The XAU/USD pair continues to consolidate around 2030.00, awaiting new drivers in the market. Today, traders are watching the trends in US Gross Domestic Product (GDP) for the fourth quarter of 2023.