USD/JPY tests resistance zonce

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Source: Dukascopy Bank SA


The support of the 200-hour simple moving average held on Tuesday. The SMA caused a surge, which by the middle of Wednesday had reached the resistance zone of the December high level zone at 113.88/113.96. In addition, the weekly R1 simple pivot point was located in the zone at 113.95.

A passing of the resistance of the December high zone at 113.88/113.96 might not result in a surge, as the 114.00 level could provide resistance. Above the 114.00 mark, the weekly R2 simple pivot point at 114.51 and the 114.50 are highly likely set up to stop a surge.

Meanwhile, a bounce off from the resistance zone would look for support in the 50, 100 and 200-hour simple moving averages at 113.65, 113.60 and 113.50. Further below, the weekly simple pivot point at 113.40 is set to act as support.
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Wed, 15 Dec 2021 14:25:29 GMT

Gold reacts to US PPI

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Wed, 15 Dec 2021 14:07:21 GMT

GBP/USD reaches high level zone

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