USD/JPY recovers before reaching support zone

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Source: Dukascopy Bank SA


The USD/JPY began a recovery on Tuesday morning prior to reaching the support zone at 113.25/113.44. By the start of the day's US trading hours at 13:30 GMT, the pair had reached and was testing resistance near 113.80. Namely, the 100 and 200-hour simple moving averages and the weekly simple pivot point were providing resistance from 113.80 to 113.88.

A passing of the technical resistance at 113.80/113.88 could find further resistance at 114.00. The 114.00 mark is capable of impacting the rate's direction. In addition, the 55-hour simple moving average was strengthening the resistance of the 114.00 level. Above the 114.00 mark, the previous high levels at 114.45 might act as a resistance.

However, a decline of the pair might find support in the weekly S1 simple pivot point at 113.43 and the last week's low level zone at 113.26/113.44.
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Tue, 02 Nov 2021 14:09:38 GMT

Gold finds resistance above 1,795.00

The resistance of the 55, 100 and 200-hour simple moving averages failed to keep the metal's price down. The bullion pierced the SMAs. However, it did not result in a follow up surge, as the 1,796.00/1,797.00 zone provided resistance. Since the middle of Monday's trading hours, the price has been fluctuating between the support of the 55-hour simple moving average

Tue, 02 Nov 2021 13:34:38 GMT

GBP/USD reaches pivot point

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