USD/JPY finds support in pivot point

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


On Tuesday, the USD/JPY currency pair found support in the weekly S1 simple pivot point at 114.74. The pivot point's support and the 114.80 mark held out for eleven hours, before a surge started. During the first half of Wednesday's trading, the pair had passed above the resistance of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point in the 115.05/115.27 zone.

If the US Dollar continues to gain value against the Japanese Yen, the rate is highly likely going to test the resistance of the 115.70/115.80 zone. The resistance zone stopped the rate's attempts at surging during the second half of February. A move above the zone could encounter resistance at 116.00 and 116.13, where the weekly R1 simple pivot point is located at.

Meanwhile, a decline of the USD versus the JPY might look for support in the 115.05/115.27 zone, where the moving averages and the weekly simple pivot point are located. Further below, the weekly S1 simple pivot point at 114.74 could once again act as support.
Back to articles

Actual Topics

Wed, 02 Mar 2022 13:35:56 GMT

Gold continues to surge in pattern

The yellow metal has clearly passed the resistance zone at 1,913.50/1,922.00, surged and confirmed the existence of a channel up pattern and retraced back down to the mentioned zone to confirm it as support. In the near term future, the price for gold could resume its surge due to the support of the 1,913.50/1,922.00 zone and the 50 and 100-hour

Wed, 02 Mar 2022 13:15:10 GMT

GBP/USD finds support in February low

On Tuesday, the squeeze of the GBP/USD currency exchange rate between the 50 and 100-hour simple moving averages resulted in a break-out downwards. During the early hours of Wednesday's trading, the pair found support in the February low level at 1.3275. By the start of the day's US trading at 14:30 GMT, the rate had recovered and touched the 1.3330

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.