USD/JPY continues to surge

Source: Dukascopy Bank SA


By mid-Wednesday, the USD/JPY currency pair reached the 137.80 level. Meanwhile, it was spotted that the pair might be supported by an ascending supporting trend line.

A continuation of the appreciation of the US Dollar against he Japanese Yen is set to test the following levels. The 138.00 mark, the weekly R1 simple pivot point at 138.24, the 138.50 and 139.00 levels.

However, a potential decline would have to first pass below the support of the ascending trend line and the 200-hour simple moving average near 137.20. In addition, note the approaching 50-hour simple moving average near 136.75. Further below, the rate could look for support in the 136.50 mark, before the combination of the 136.00 level, the weekly simple pivot point at 135.93 and the 100-hour simple moving average would be reached.
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Wed, 07 Dec 2022 11:51:05 GMT

Gold respects moving averages

The recovery from the 1,764.00/1,766.15 range found resistance in the 1,780.00 level. Afterwards, a decline appears to be finding support in the 200-hour simple moving average near 1,770.00. By mid-Wednesday, the price remained above the 200-hour SMA, as the 50-hour SMA approached from above and acted as resistance. Namely, the price is expected to get squeezed in between the SMAs

Wed, 07 Dec 2022 11:26:42 GMT

GBP/USD extends decline

The weekly simple pivot point at 1.2162 eventually failed to keep the pair up and on Wednesday morning the GBP/USD almost reached the 1.2100 level. However, by mid-day the rate had recovered and reached the 1.2180 level, where resistance was provided by the 50-hour simple moving average. A move above 1.02180 might immediately encounter resistance in the 1.2200 level, the 100-hour

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