GBP/JPY declines to 158.00

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Source: Dukascopy Bank SA


The GBP/JPY currency exchange rate declined on Wednesday, without finding support in the technical and psychological levels near 159.00. By the start of Thursday's trading, the pair had reached the 158.00 level, which caused a retracement back up to the 159.50 mark.

If the Pound declines against the Japanese Yen, the currency pair might look for support in the 158.00 level and other round exchange rate levels, before reaching the May low levels at 155.60/156.00.

On the other hand, a recovery of the currency rate is set to also encounter resistance in round levels like the 159.50 and 160.00. A target for a major surge would be the this weeks high levels above 161.50.
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Thu, 19 May 2022 07:20:54 GMT

USD/CAD bounces off 1.2900

During late Wednesday's trading hours, the USD/CAD pair bounced off the 1.2900 level and the resistance of the 100-hour simple moving average. By the start of Thursday's European trading hours, the rate had declined below the 1.2850 mark and the technical levels, which surround it. If the pair continues to decline,it is set to look for support in the 1.2800 level

Thu, 19 May 2022 06:57:08 GMT

AUD/USD declines to 0.6950

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