GBP/JPY respects round levels

Note: This section contains information in English only.
Source: Dukascopy Bank SA


In general, the Bank of Japan tightens and the Bank of England reduces interest rates, which would mean that the trade is simple - JPY up and GPB down. However, due to the pair going down almost vertically. Eventually, it culminated in the pair reaching as low as 180.00, before a recovery started.

In mid-August, the rate had recovered to the resistance of the 190.00 mark. This level and other round levels have been observed to be acting as support and resistance.

A move above 190.00 could encounter resistance in the 200-day simple moving average near 193.00. Higher above, resistance is bound to be encountered in the 200.00 mark.

On the other hand, a decline of the GBP/JPY rate might look for support in the 185.00 level, prior to reaching the 178.00/180.00 zone.
Back to articles

Actual Topics

Tue, 20 Aug 2024 19:46:04 GMT

USD/CHF descends in channel pattern

The US Dollar has been declining in a channel down pattern against the Swiss Franc since the start of June. In early August, the currency pair found support in the end of 2023 low level range at 0.8330/0.8435. However, the recovery did not last, as after a brief recovery, the pair resumed the prior descend. In the near term future,

Tue, 13 Aug 2024 13:43:28 GMT

AUD/USD recovery faces resistance

In early August, the Australian Dollar dropped against the US Dollar, as the USD was strengthened by the unwinding of the Japanese Yen carry trade and bad US employment data. However, support was found in the 0.6350/0.6390 range. Since then, the pair has recovered and on August 13 was piercing the resistance of the 200-day simple moving average near

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Chcete-li se dozvědět více o platformě Dukascopy Bank CFD / Forex, SWFX a dalších souvisejících obchodních informacích, prosím, zavolejte nám, nebo vám můžeme zavolat my.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.