USD/JPY extends decline

Source: Dukascopy Bank SA


The decline of the USD/JPY almost reached the 106.60 level, before recovering. During the early hours of Friday's trading, the pair was aiming at the resistance of the 109.00 level.

At the 109.00 level, a resistance zone starts. The zone previously provided support at the start of April and afterwards provided resistance during this week. In addition, note that the 100-hour SMA strengthens the zone. Moreover, the upper trend line of a channel down pattern could provide additional resistance.

If the pair passes the mentioned resistance levels, the USD/JPY could reach for the 109.40 level and the 200-hour simple moving average. On the other hand, a failure to surge could result in the continuation of the previous decline and new low levels.
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Fri, 16 Apr 2021 08:12:46 GMT

Gold breaks March high

The yellow metal's price has reached above the March high level zone that was located above the 1,755.00 level. On Friday, the price found support in the 1,760.00 level. Due to that reason the zone was extended and remains on the chart, as it is expected that it would provide support. In the meantime, the metal had faced and bounced off

Fri, 16 Apr 2021 07:49:15 GMT

USD/CAD rebounded from support level

The USD/CAD currency pair bounced off a support level at 1.2487 during Thursday's trading session. As a result, the US Dollar surged by 75 pips or 0.60% against the Canadian Dollar on Thursday.

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