USD/JPY surge hits 149.00

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Source: Dukascopy Bank SA


A string of fundamental events has caused a surge of the US Dollar against the Japanese Yen. This week, the rate was declining after hitting resistance at 149.00.

On Monday, it appeared that the decline might look for support in the 50-hour simple moving average and the lower trend line of a channel up pattern. If these levels fail, support could be found in the 147.00 level, before the pair reaches the combination of the weekly simple pivot point at 146.43 and the 100-hour simple moving average.

In the meantime, a potential resumption of the prior surge is set to face the 149.00 and 150.00 levels. Higher above, note the 151.00 mark and the weekly R1 simple pivot point at 151.21.
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Mon, 07 Oct 2024 13:28:21 GMT

Gold respects round levels

The price for gold has been highly volatile in the range between 2,640.00 and 2,670.00, as various US data sets were being published. In general, the commodity price appears to be consolidating. If the consolidation ends with a surge, the pair would test the resistance of the 2,685.00 level that marks the all-time high level. However, a decline below 2,640.00

Mon, 07 Oct 2024 13:05:14 GMT

GBP/USD decline approaches 1.3050

The 1.3300 mark held, and a decline occurred throughout the week. In general, one event after another has strengthened the US Dollar, which has resulted in a decline of the GBP/USD as low as the 1.3050 level. Meanwhile, it was observed that the pair faced the resistance of the 50-hour simple moving average. An extension of the ongoing decline is expected

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