USD/JPY recovery faces resistance

Source: Dukascopy Bank SA


The major decline of the USD/JPY rate has paused at the 142.00 mark. This range has provided support for a recovery. By mid-Wednesday, the recovery was approaching the 148.50/148.90 range that was expected to act as resistance.

A move above the 148.50/148.90 range is expected to face the resistance of the weekly simple pivot point at 149.38 and the descending 200-hour simple moving average. In addition, the 150.00 mark is expected to act as resistance. Higher above, note the 152.00 mark and the weekly R1 simple pivot point at 152.34.

If the pair resumes the prior decline, the rate is set to look for support in the combination of the 50 and 100-hour simple moving averages near 146.00. Note that the 146.00 mark has acted as support and resistance without the help of other indicators. Further below, the weekly S1 simple pivot point has slowed down a decline at 143.54 and could repeat this act, before the pair reaches the 142.00 mark.
Back to articles

Actual Topics

Wed, 07 Aug 2024 13:21:17 GMT

Gold returns to 2,400.00

The price of gold declined due to the broad asset sell off. However, the price eventually found support in the 2,370.00 level. By mid-Wednesday, it has once again returned to trade near 2,400.00. A continuation of the ongoing recovery could encounter resistance in the 200 and 100-hour simple moving averages. In addition, the 2,420.00 level might impact the rate.

Wed, 07 Aug 2024 12:11:28 GMT

GBP/USD returns to 1.2700

In the aftermath of the high USD volatility, the GBP/USD has returned to trade near the 1.2700 mark. The 1.2700 appears to have failed to act as support, but the 1.2680 level has provided support and caused a recovery. On Wednesday, the recovery faced the resistance of the 50 and 100-hour simple moving averages and the 1.2735/1.2750 range. A move above

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.