USD/JPY reveals new support

Source: Dukascopy Bank SA


In general, the pair is still near 157.00. However, a new hihg was booked at midnight to Wednesday at 157.40. In the meantime, during the morning hours of the day, the pair confimred that the 50 and 100-hour simple moving averages are acting as support.

A resumption of the prior surge of the Dollar against the Yen is set to face the 157.50 level and the weekly R1 simple pivot point at 157.59. Higher above resistance could be found in the 158.00 level and the weekly R2 simple pivot point at 158.24.

If the rate declines, it has to first pass the 50 and 100-hour simple moving averages and the 157.00 level. Below these levels, the weekly simple pivot point and the 200-hour simple moving average are acting as support together with the 156.50 level.
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Wed, 29 May 2024 15:02:30 GMT

Gold is back at support

The recovery of gold stopped at 2,360.00. The level held and caused a decline back to the 2,326.60/2,334.40 range that has acted as support. A recovery of the metal's price has to reach above 50 and 100-hour simple moving averages near 2,350.00 and the 2,360.00 mark. Higher above, the 200-hour SMA might act as resistance near 2,380.00, before teh 2,400.00

Wed, 29 May 2024 14:35:07 GMT

GBP/USD bounced off 1.2800

The 1.2800 level has been reached as expected. It has acted as resistance and the scenario of a decline has been ongoing. At mid-Wednesday, the pair passed below the 200-hour simple moving average and the weekly simple pivot point near 1.2725. Next target was the 1.2700 mark If the 1.2700 level fails to hold, support could be looked for in

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