USD/JPY reaches 145.00

Source: Dukascopy Bank SA


Initially, the US CPI was at the forecasts or slightly lower, which caused a drop of the US Dollar on Thursday at 12:30 GMT. However, then the markets realized that the data has showed first growth in 13-months.

On the USD/JPY charts there was an initial fake breaking of the channel up pattern, as the pair shortly traded below the trend line, the 50-hour simple moving average and the weekly R1 simple pivot point. Afterwards, a surge followed, which reached the 144.90145.10 range by GMT time zone midnight. On Friday, the rate appeared to be consolidating by looking for support. The support might be found at 144.50.

A decline below 144.50 could result in the pair looking for support in the lower trend line of the ascending channel and the approaching 50-hour simple moving average. If these technical levels fail, the 144.00 mark is highly likely set to act as support. Even further below, take into account the 100-hour simple moving average, the weekly R1 simple pivot point at 143.49 and the 143.50 level.

If the surge resumes, it is set to face the 144.90/145.10 range. A breaking of the resistance might immediately be slowed down by the weekly R2 simple pivot point at 145.29 and the 145.50 level.
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Actual Topics

Fri, 11 Aug 2023 10:19:35 GMT

Gold reacts to US CPI

Initially, the US CPI was at the forecasts or slightly lower, which caused a drop of the US Dollar on Thursday at 12:30 GMT. However, then the markets realized that the data has showed first growth in 13-months. Gold reacted to the news with a breaking of the resistance of the 1,920.30/1,922.60 range and the 50-hour simple moving average

Fri, 11 Aug 2023 09:42:15 GMT

GBP/USD reacts to events

Initially, the US CPI was at the forecasts or slightly lower, which caused a drop of the US Dollar on Thursday at 12:30 GMT. However, then the markets realized that the data has showed first growth in 13-months. This caused a piercing of the resistance range and 1.2800 mark, before the pair started a decline. The decline passed below

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