GBP/JPY trades sideways after declining

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


On Thursday, at 11:00 GMT, the Bank of England crashed the value of the Pound by revealing that the bank expects an incoming recession and inflation above 10.00%. The GBP/JPY plummeted down from the 163.00 level to 160.33.

Since the event, the GBP had recovered and revealed a resistance zone at 161.50/161.60 and support at 160.30/160.40. At mid-day on Friday, the currency pair was located near the 161.00 level.

A potential decline of the currency rate would look for support in the 160.30/160.40 zone, before approaching the weekly S1 simple pivot point at 160.10 and the 160.00 mark. On the other hand, a surge of the Pound against the Yen is set to face the resistance of the 161.50/161.60 zone, prior to reaching the 162.00 mark. In the meantime, take into account the 50, 100 and 200-hour simple moving averages at 161.80 and 162.20.
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Fri, 06 May 2022 12:57:43 GMT

USD/CAD trades sideways after recovery

From a technical perspective, the 1.2718/1.2724 zone provided enough support for a surge up to the 1.2870 mark. The 1.2860/1.2870 zone acted as resistance and forced the pair into a retracement to 1.2813/1.2816. At mid-day on Friday, the pair had bounced off the combination of the 1.2813/1.2816 zone and the 200-hour simple moving average. Note that the bounce off was consistent

Fri, 06 May 2022 12:10:42 GMT

AUD/USD continues to decline

The AUD/USD currency exchange rate extended its decline during Friday's trading, as the pair bounced off the technical levels at 0.7120 and by the middle of the day the 0.7065 level had been touched. Note that during the decline the pair mostly ignored the 0.7100 mark. A continuation of the decline of the Australian Dollar against the USD might find support

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