USD/JPY breaks pattern

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Source: Dukascopy Bank SA


On Friday morning, the upper trend line of the channel down pattern and the 100-hour simple moving average failed to provide resistance to the USD/JPY currency exchange rate. Namely, the pair surged above them and touched the 113.50 mark, before retracing to look for support in the 100-hour SMA.

A resumption of the surge of the USD/JPY pair might first test the resistance of the 113.50 level. Above the 113.50 mark, this week's high levels at 113.88/113.97, the 200-hour SMA near 114.00, the 114.00 mark by itself and the weekly simple pivot point at 114.01 make up a major cluster of resistance.

However, a potential decline of the rate might look for support in the 100-hour simple moving average at 113.25 and the 50-hour simple moving average at 113.08. Below the SMAs, note the 112.53/112.66 support zone, which represents this week's low levels.
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Actual Topics

Fri, 03 Dec 2021 11:31:19 GMT

Gold remains in pattern

On Thursday, the yellow metal's price booked a new low level by testing the lower trend line of a descending channel down pattern near 1,765.00. The event was followed up by a surge up to the 50-hour simple moving average near 1,775.00. If the metal's price attempts to surge higher, it would have to break the resistance of the 50-hour simple

Fri, 03 Dec 2021 11:13:45 GMT

GBP/USD passes support levels

At mid-day on Friday, the GBP/USD currency exchange rate pierced the support of the weekly S1 simple pivot point at 1.3264. The rate was pushed down initially on Thursday by the 200-hour SMA. On Friday, the 50-hour simple moving average provided resistance. A potential decline further below might look for support in the 1.3200 mark, which provided the pair with support

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