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Since early Tuesday's trading hours, the GBP/JPY has been trading between the support zone at 160.08/160.43 and the resistance of the 50-hour simple moving average near 160.80.
A move below the support zone could almost immediately find support in the 160.00 mark. Further below, take into account the weekly S1 simple pivot point at 159.58, the 159.50 and 159.00 levels.
Meanwhile, an upwards move by the Australian Dollar against the US Dollar might be stopped by the 50-hour SMA at 160.80 and the 161.00 mark. Above these levels, there is a resistance zone at 161.50/161.60.
Wed, 11 May 2022 08:12:49 GMT
Source: Dukascopy Bank SA
Since early Tuesday's trading hours, the GBP/JPY has been trading between the support zone at 160.08/160.43 and the resistance of the 50-hour simple moving average near 160.80.
A move below the support zone could almost immediately find support in the 160.00 mark. Further below, take into account the weekly S1 simple pivot point at 159.58, the 159.50 and 159.00 levels.
Meanwhile, an upwards move by the Australian Dollar against the US Dollar might be stopped by the 50-hour SMA at 160.80 and the 161.00 mark. Above these levels, there is a resistance zone at 161.50/161.60.