USD/JPY respects resistance at 109.60

Source: Dukascopy Bank SA


On Wednesday morning, the USD/JPY currency pair bounced off the resistance of the 109.60 level. Previously, during night hours, the rate ended a decline by finding support in the September and August low level at 109.12.

In the near term future, the rate had two possible scenarios. The pair could either pass the resistance of the 109.60 zone or bounce off it.

In the case of a passing of the resistance zone, the pair would almost immediately encounter resistance, as the 200-hour simple moving average was located at 109.70 and the weekly simple pivot point was at 109.77.

On the other hand, a decline might look for support in the 55-hour SMA at 109.46, the weekly S1 simple pivot point at 109.37 and afterwards the summer low level at 109.12.
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Wed, 22 Sep 2021 13:36:14 GMT

Gold respects resistance

Since the middle of Tuesday's trading hours, the price for gold has been kept down by the combined resistance of the 200-hour simple moving average and the 1,781.00/1,783.00 zone. In the case that the 200-hour simple moving average continues to push the price down, it could find support in the 55 and 100-hour simple moving averages. The 55-hour SMA was

Wed, 22 Sep 2021 12:41:12 GMT

GBP/USD is pushed down by SMA

At midnight to Wednesday, the GBP/USD encountered and bounced off the combined resistance of the weekly S1 simple pivot point at 1.3676 and the 55-hour simple moving average at 1.3680. Afterwards, the rate began a step by step decline, which had no technical support as low as 1.3808. In the case that the rate declines, the GBP/USD could look for support

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