EUR/JPY surge approaches 140.00

Source: Dukascopy Bank SA


The 50-hour simple moving average has continued to push the EUR/JPY rate up. On Thursday, the pair reached above the 139.00 mark and the weekly R3 simple pivot point at 139.39. During the early hours of Friday's European trading, the pair reached above 139.50 and was heading to the 140.00 mark. The 140.00 level is also the April 2022 high.

If the currency exchange rate bounced off the 140.00 mark, support could be found in the weekly R3 simple pivot point at 139.39, before reaching the 50-hour simple moving average. A move below the SMA is expected to look for support in the 138.00/138.35 zone.

On the other hand, a move above 140.00 might encounter some resistance in the late 2015 high level at 141.00. Note that the rate is at high levels not experienced for more than seven years, prior to the April surge.
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Fri, 03 Jun 2022 08:57:15 GMT

AUD/USD reaches above 0.7250

The support of the 0.7140 level was enough to cause a major surge of the AUD/USD rate. the surge shortly paused at 0.7200 and 0.7224/0.7230. During the midnight hour to Friday, the pair touched the 0.7280 level, before retracing down to look for support. Support appeared to be found in the 0.7250 mark and the weekly R2 simple pivot point

Thu, 02 Jun 2022 13:12:27 GMT

USD/CAD trades sideways

In the aftermath of the sharp and narrow decline, the USD/CAD currency pair has begun to trade between the support of the weekly S2 simple pivot point at 1.2607 and the resistance zone at 1.2680/1.2687. If the US Dollar resumes its decline against the Canadian Dollar, the currency pair would have to pass the weekly S2 simple pivot point and

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