Forget about technical analysis for now. The Bank of Japan has revealed its policy stance and it is impacting the USD/JPY through the value expectations for the Japanese Yen. In general, the central bank has caused the rate to reach a new 2023 high. The Bank of Japan has kept its policy rate at -0.10%. Namely, the BoJ is not
The currency pair has managed to reach above the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point at 1.2159. At mid-day on Tuesday, the rate respected the resistance of the 1.2200 mark. Higher above, note that the 1.2220 level has shown itself as resistance and support. Above 1.2200, the weekly R1 could provide resistance at
Support was found in the weekly simple pivot point at 1.0592 on Tuesday morning. Meanwhile, additional pressure was provided by the 50, 100 and 200-hour simple moving averages. By mid-Tuesday's European trading, the rate had reached above the 1.0640 level and the weekly R1 simple pivot point at 1.0662. Next resistance for the pair is set to be encountered near
The price for gold has passed above the resistance zone of the triangle pattern and the 2,000.00 mark. However, instead of surging the commodity price has retraced down to the 1,990.30/1,997.15 zone and the 50-hour simple moving average. In the meantime, the commodity was being approached by the additional support of the 100-hour simple moving average and the supporting
On Monday, news that the Bank of Japan might change its policy on the Japanese Yen has caused a drop of the USD/JPY. From a technical analysis perspective, the rate has passed below the support range at 149.30/149.45. Eventually, the rate found support in the 148.80 level. A move below 148.80 is set to look for support in the 148.50
The currency exchanger ate has respected the support of the 1.2100 mark and the zone that surrounds its. The events have resulted in a recovery of the Pound against the US Dollar. At mid-day on on Monday, the rate was testing the resistance of the weekly simple pivot point at 1.2159. A move above 1.2159 could be slowed down
The EUR/USD found support in the 1.0520/1.0535 range on Friday and started a surge that by mid-Monday had reached above the 106.00 mark. The ongoing surge of the Euro against the US Dollar is expected to face the resistance of the 1.0640 level, before the pair approaches the weekly R1 simple pivot point at 1.0662. Above the pivot point, take
The price for gold has broken the channel up pattern that guided the commodity up throughout October. The surge almost amounted to a total of $200. After breaking the ascending channel, the metal has revealed a resistance zone at 1,890.85/1,997.15 and a supporting trend line that connects this week's low levels. Combined these levels form a triangle pattern. A breaking
The USD/JPY has continued to surge, despite reaching above the 150.00 mark. However, it appears that another intervention has occurred. As the pair approached the 150.80 mark on Thursday, it suddenly dipped below 150.00, before returning to trade near 150.50. By mid-Friday, the rate had declined back to the 150.00 mark. A move below 150.00 would have to pass the
The GBP/USD shortly reached below the 1.2100 mark, prior to recovering. On Friday, the rate appeared to be trading between the support of the 50-hour simple moving average near 1.2110 and the resistance of the 1.2140 level. A move above 1.2140 is expected to almost immediately face the resistance of the 100 and 200-hour simple moving averages and the weekly
It was recently spotted that the EUR/USD, despite being impacted by fundamentals events, has been respecting the support of the weekly S1 simple pivot point at 1.0525 and the weekly simple pivot point at 1.0571. A move above 1.0571 is expected to face the combination of the 100 and 200-hour simple moving averages near 1.0585. Higher above, note the 1.0600
Gold almost reached the 2,000.00 mark, before starting a consolidation. The consolidation started, as the price hit the upper trend line of the channel up pattern. On Monday, the commodity was finding support in the combination of the 50-hour simple moving average and the 1,970.00 mark. A resumption of the surge of the metal's price is now expected to face
The USD/JPY currency pair has once again reached the 150.00 mark. At this level the markets expect the Bank of Japan to intervene in the forex market and strengthen the Japanese Yen. A strengthening of the Yen would result in the currency pair declining below the support of the 100-hour simple moving average which has kept the pair up
The GBP/USD has confirmed that it is respecting a support zone near the 1.2100 mark. The zone caused a recent recovery of the pair that managed to reach above the 50 and 100-hour simple moving averages. On Monday, the pair broke the 200-hour moving average at 1.2185 and approached the resistance zone at 1.2215/1.2225. A move above the resistance range
The currency exchange rate has reached above the 1.0600 mark. However, the 1.0620 level is acting as resistance. It caused a retracement on Thursday and kept the rate down mid-Monday. Meanwhile, it has been spotted and charted that the rate is in a channel up pattern. A move above 1.0620 could result in the rate facing the combined resistance of
The surge continues, as the metal's price has reached the 1,950.00 mark at mid-Wednesday. Meanwhile, analysts have spotted that the surge could have occurred in a yet unconfirmed channel up pattern. Higher above, note the 1,970.00 and 1,980.00 levels that have acted as resistance in July. Above these levels, the 2,000.00 mark is expected to slow down the surge. However, in
The pair continues to act strange, as the markets expect Bank of Japan manipulation. On Tuesday, the pair suddenly dipped below 148.80, before returning to previous levels. It appears as if someone wanted to trigger the stops of the buyers below the 149.30/149.50 range. Meanwhile, the 149.80 level continues to act as resistance. A move above the 149.80 level is
By mid-Wednesday, the pair continued to bounce between the support range at 1.2040/1.2050 and resistance at 1.2218/1.2225. A decline might look for support in the 1.2120 level and the zone above it. Further below, Note the two October low level zones at 1.2105/1.2110 and 1.2040/1.2050. In addition, the weekly S1 could provide support at 1.2060. On the other hand, a potential
The EUR/USD has passed above the resistance range at 1.0555/1.0565 However, the pair has not managed to reach above the 1.0600 mark and the weekly R1 simple pivot point. An extension of the ongoing surge would have to break the 1.0600 mark and the weekly R1 simple pivot point, before approaching the October high level range at 1.0635/1.0640. On the other
Gold has reacted to a run to safety. Before the weekend, markets went into safe haven assets, as an escalation of the war in Middle East was expected. The commodity price reacted to the events with a surge to the resistance of the 1,932.50 level. Afterwards, a retracement to the support of the 1,910.00 level occurred. On Tuesday, the
The USD/JPY currency exchange rate has reached above the 148.50/149.00 range. The previous resistance appears to have turned into support. However, the 149.80 level has acted as resistance, before the pair has hit the 150.00 mark. A move above the 149.80 level is expected to face major resistance in the 150.00 mark. Both the retail sector and large banks consider
The currency exchange rate has bounced off the resistance of the 1.2218/1.2225 range and declined to as low as 1.2150 during the early hours of Tuesday. An extension of the ongoing decline might look for support in the 1.2120 level and the zone above it. Further below, Note the two October low level zones at 1.2105/1.2110 and 1.2040/1.2050. In addition,
The EUR/USD has confirmed the 1.0500 mark as support. Meanwhile, resistance is found at 1.0555/1.0565. In addition, the pair respects the hourly moving averages. In the case of a decline of the currency rate the pair would have to pass below the 50-hour simple moving average at 1.0535, before approaching the support of the 1.0500 mark. However, if the pair surges
The surge of gold continues, as on Wednesday the metal reached above 1,865.00 and touched the next resistance zone. Namely, the commodity has reached the 1,877.40/1,879.90 range. A passing above the 1,880.00 level is expected to result in the metal's price aiming at the 1,895.00 level and the 1,900.00 mark. On the other hand, note that the each breaking of a