USD/JPY finds support in SMA

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Source: Dukascopy Bank SA


The USD/JPY currency exchange rate has broken the channel up pattern, which guided it throughout last week. On Monday morning, the rate found support in the 100-hour simple moving average and appeared to have paused the decline that started in the aftermath of the breaking of the channel up pattern.

In the case of a surge, the pair would need to pass the resistance of the 55-hour SMA and the 110.33/110.38 zone, which provided resistance throughout the middle of July. A potential surge of the rate would then reach the 110.60 level.

On the other hand, a decline below the 100 and 200-hour SMAs and the weekly simple pivot point just above the 110.00 mark could result in a decline to the weekly S1 simple pivot point at 109.58
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Mon, 26 Jul 2021 10:18:43 GMT

Gold reaches above 1,800.00

On Monday morning, the yellow metal traded above the 1,800.00 level. Meanwhile, support was being provided by the combination of the 100-hour simple moving average and the 1,805.00 level. Resistance was being found in the 1,810.00 level and the 200-hour simple moving average. If the rate breaks resistance near 1,810.00, the price of the metal could test the upper trend line

Mon, 26 Jul 2021 09:49:49 GMT

GBP/USD breaks pattern

On Monday morning, the GBP/USD currency exchange rate broke the large scale channel down pattern, which had guided the rate since the start of July. In the near term future, the surge of the rate could reach for the resistance of the 1.3800 mark, which provided both resistance and support throughout July. Afterwards, the weekly R1 simple pivot point at 1.3835

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