USD/JPY reveals new pattern

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Source: Dukascopy Bank SA


The channel up pattern failed to hold. The USD/JPY currency pair has declined and revealed a channel down pattern. By mid-Thursday, the rate had reached below the 143.50 level.

An extension of the ongoing decline is expected to first look for support in the 143.00 mark and the combination of the 142.50 level and the weekly S2 simple pivot point.

On the other hand, a surge would have to break the ascending channel pattern and the 144.00 level. Higher above, take into account the weekly S1 simple pivot point at 144.29, which could slow down the rate, before it reaches a major cluster of resistance. Near the 145.00 mark, there are three hourly simple moving averages and the weekly simple pivot point at 145.27.
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Thu, 05 Sep 2024 11:04:01 GMT

Gold reveals new support range

The price of gold passed all marked support levels and a broader decline was expected. However, the price once again has found support in the 2,470.00 level. A zone has been marked near this level. On Thursday, the price had recovered and returned above the 2,500.00 mark. It was assumed that the rate could soon reach the 2,530.00 high

Thu, 05 Sep 2024 09:59:01 GMT

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