EUR/JPY finds support in SMA

Note: This section contains information in English only.
Source: Dukascopy Bank SA


On Wednesday, the EUR/JPY currency exchange rate bounced off the resistance of the January 4 high level at 131.47. The following decline found support in the combination of the 50 and 200-hour simple moving averages below the 131.00 level. Since late Wednesday trading, the 50-hour simple moving average has been pushing the rate up.

If the 50-hour SMA continues to push the rate up, the EUR/JPY might once again make an attempt at passing the January 4 high level at 131.47. Above the 131.47 level, the January 5 high at 131.60 could stop a surge. In the case of both high levels being passed, the rate would most likely encounter resistance at the weekly R1 simple pivot point at 131.97 and the 132.00 mark.

On the other hand, a potential decline of the rate might look for support in the combination of the 131.00 mark, the weekly simple pivot point and the 200-hour simple moving average. Below these levels, the most close by support was the weekly S1 simple pivot point at 130.40.
Back to articles

Actual Topics

Thu, 13 Jan 2022 09:04:02 GMT

AUD/USD jumps 1.12%

On Wednesday, at 13:30 GMT, the US Consumer Price Index and Core Consumer Price index data was released. The USD reacted by declining. On the AUD/USD charts the event caused a sharp surge, which broke one resistance level after another. Namely, a 81 base point or 1.12% surge occurred. In the aftermath of the surge, the rate retraced down to

Wed, 12 Jan 2022 14:25:03 GMT

Gold gains faster than expected

The price for gold surged faster than expected, as the bullion broke through the upper trend line of the channel up pattern and reached the 1,823.50 level on Tuesday. Afterwards, a consolidation down to the 1,815.00 level occurred. The 1,815.00 acted as support and started a surge. On Wednesday, at 13:30 GMT, the US Consumer Price Index and Core Consumer

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.