USD/JPY remains above 142.00

Source: Dukascopy Bank SA


The rate has ended its decline, before reaching the 142.00 level. On Friday morning, the pair recovered and tested the combined resistance of the 50 and 100-hour simple moving averages and the 142.70/143.10 range.

A move above 143.00 level could be slowed down by the 143.50 and 144.00 levels. Note that the 144.00 mark is strengthened by the weekly R2 simple pivot point at 144.09. Higher above, the June high level zone is set to act as resistance at 145.00.

In the case of a decline of the US Dollar against the Yen, expect the pair to look for support in the 141.50/142.00 range and the 200-hour simple moving average. Meanwhile, it appears that previously the 142.50 level and the 100-hour SMA were ignored as support
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Fri, 04 Aug 2023 10:57:54 GMT

Gold remains above support

The price for gold remains above the 1,930.50/1,932.10 range. Meanwhile, the pair is being approached by the resistance of the 50-hour simple moving average. In general, previous scenarios are relevant. In the case of the metal passing below the support zone at 1,930.50/1,932.10 the descent could be slowed down by the lower trend line of a broad channel down pattern,

Fri, 04 Aug 2023 10:36:04 GMT

GBP/USD respects pivot point

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