GBP/JPY braks triangle pattern

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Source: Dukascopy Bank SA


The GBP/JPY currency exchange rate broke the triangle pattern and surged to the resistance of the December 8 high level, which caused a decline. On Tuesday morning, the decline reached the support line of the December low level connecting trend line, and the rate recovered to the combined resistance of the 50 and 200-hour simple moving averages.

If the rate reaches above the 50 and 200-hour SMAs, the weekly simple pivot point at 150.35 might act as resistance. Higher above, the recent December high level zone at 150.67/150.77 might stop a surge.

However, a decline from the simple moving averages would have to pass the support of the December low level connecting trend line, before reaching the support of the weekly S1 simple pivot point at 149.56.
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Tue, 14 Dec 2021 09:15:25 GMT

USD/CAD approaches high level zone

The surge of the USD against the Canadian Dollar continues, as on Tuesday morning the USD/CAD rate reached above the 1.2800 mark. In the near term future, the rate was expected to test the resistance of the December high level zone at 1.2835/1.2853 and the weekly R1 simple pivot point at 1.2840. If the USD/CAD pair reaches above the 1.2853

Tue, 14 Dec 2021 08:49:56 GMT

AUD/USD finds support near 0.7100

On Tuesday morning, the decline of the AUD/USD found support below the 0.7100 mark. Namely, the 0.7091/0.7097 zone provided support for a recovery. By 09:00 GMT, the rate had reached above the 200-hour SMA at 0.7110 and the weekly simple pivot point at 0.7121. A continuation of the surge of the pair could encounter resistance in the 50-hour simple moving average

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