USD/JPY trades in 30 pip range

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Source: Dukascopy Bank SA


The USD/JPY has revealed that it respects the resistance of the 110.40 level. Meanwhile, support appears to be provided by the 110.10 level and the 100-hour simple moving average. However, on Tuesday morning, the support of the simple moving average was passed.

In the case that the rate surges, the rate would have to pass the 110.40 level before encountering the July 23 high level at 110.60. Take into account that other July high levels are also located at round exchange rate levels. Namely, July 14 high is at 110.70 and the July 7 high is at 110.80.

However, a potential decline of the pair would find support in the 110.00 mark, the weekly simple pivot point at 110.09 and the 200-hour simple pivot point at 110.05.
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Tue, 27 Jul 2021 05:56:20 GMT

AUD/USD potential target at 0.7440

The Australian Dollar edged higher by 51 pips or 0.69% against the US Dollar on Monday. The surge was stopped by the 200– hour simple moving average during Monday's trading session.

Tue, 27 Jul 2021 05:50:47 GMT

GBP/USD reaches pivot point

The surge, which followed the GBP/USD breaking the channel down pattern and the resistance of the 1.3800 mark, has found resistance. Namely, since the middle of Monday's trading hours, the pair has been fluctuating sideways below the weekly R1 simple pivot point at 1.3835. If the pair breaks the resistance of the pivot point, it could reach for the resistance zone

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