First of all, Dukascopy Analytics apologizes for the mistake of publishing the USD/JPY chart to the 28.03.2022 technical analysis publication of GBP/JPY. The chart codes got mixed up due to a human error of the analyst. In the aftermath of the Bank of Japan bond buying announcement surge, the GBP/JPY retraced downwards. On Tuesday, it was clearly spotted that the rate
The support of the 50-hour simple moving average failed to push the AUD/USD currency exchange rate through the resistance of the 0.7537/0.7541 zone. Afterwards, a decline below the 50-hour SMA at 0.7515 occurred. During the second half of Monday's trading, the pair started to find support in the 0.7467/0.7474 zone and resistance was provided by the 0.7500 mark. If the currency
The EUR/JPY retraced downwards on Monday, in the aftermath of the Bank of Japan bond purchase announcement. Eventually the retracement ended, as support was found at 135.20/135.30. By the middle of Tuesday's trading, the support zone had been tested twice. Meanwhile, the 136.50 mark had acted as resistance. If the currency exchange rate declines, it is expected to look for
Previously marked support and resistance zones have been removed. Instead, high and low levels have been marked on the chart. In addition, it was spotted that during the second half of March the commodity price has been surging in a channel up pattern. On Monday, the price for gold declined and found support in the lower trend line of the
The Bank of Japan announced on Monday that it would create, if needed, even unlimited supply of the Japanese Yen for the buying of the government's ten year maturity bonds in an effort to increase the price of the bonds and decreasing yields. Namely, the bank wants to keep borrowing costs low via a flooding of the money markets. As a
On Monday, the GBP/USD currency pair passed the support zone, which surrounds the 1.3120 mark. Moreover, by the middle of the day, the rate had passed below the 1.3100 mark and the weekly S1 simple pivot point at 1.3097. If the Pound continues to depreciate in value against the US Dollar, the rate would eventually reach the March low level
On Monday morning, the EUR/USD passed below the support zone at 1.0960/1.0970. However, after the event, a sudden surge occurred, as the rate returned to the resistance of the 1.1000 mark. By 14:00 GMT, the rate had bounced off 1.1000 and declined to the levels below 1.0950. If the Euro continues to decline against the US Dollar, the pair might
On Friday, the USD/CAD passed below the 1.2500 mark. Afterwards, the rate found support at 1.2465 and recovered. On Monday morning, the pair's recovery found resistance in the 1.2500 level, which continued to hold up to the middle of the day's European trading. If the US Dollar resumes its decline against the Canadian Dollar, the currency exchange rate would have to
On Monday, the GBP/JPY currency exchange rate jumped. Actually, the Japanese Yen plummeted on all charts, as the Bank of Japan announced that it would buy an unlimited amount of ten year Japanese government bonds to keep the yields of the bonds down. Due to the event, the GBP/JPY currency exchange rate reached the 164.65 level. This level acted as
On Friday, the AUD/USD eventually broke the channel up pattern, which had guided the last week's surge. However, the event was not followed by a decline, as the pair found support in the 50-hour simple moving average. By the middle of the day's European trading hours, the rate continued to find support in the SMA. Meanwhile, resistance appeared to be
On Monday, the EUR/JPY currency exchange rate jumped. Actually, the Japanese Yen plummeted on all charts, as the Bank of Japan announced that it would buy an unlimited amount of ten year Japanese government bonds to keep the yields of the bonds down. On the EUR/JPY charts the event resulted in a move up to the 137.50 level.
The breaking of the 1,950.00 level's resistance has resulted in a surge to the 1,965.00 mark, which provided resistance. The following decline eventually reached back to the 1,950.00 level by the middle of Friday's trading. If the commodity price clearly declines below the 1,950.00 mark, support might be found in the 100-hour simple moving average near 1,940.00 and the 200-hour SMA
After almost touching the 122.50 mark, the USD/JPY currency pair started a decline, which shortly reached below the 121.40 mark and the 50-hour simple moving average. However, by the middle of the day's European trading hours, the US Dollar had recovered against the Japanese Yen back above the 122.00 level. Namely, a consolidation of gains to the previous high has
Most recently, the GBP/USD has been fluctuating around the 1.3200 mark. Meanwhile, the pair was by large ignoring the 50 and 100-hour simple moving averages and a March resistance and support zone at 1.3195/1.3210. On Friday morning, the pair declined to the 200-hour simple moving average near 1.3160. Form that level a recovery back up to the 1.3200 level occurred.
The support zone at 1.0960/1.0970 has once again held and caused a surge up to the 1.1040 mark. Meanwhile, it was observed on Friday that, despite managing to impact the EUR/USD rate, the technical levels in the 1.1000/1.1027 range fail to reverse the pair's direction. Eventually, the technical levels fail. If the EUR/USD currency pair drops below 1.1000 mark, the
On Thursday, the USD/CAD currency exchange rate dropped below the lower trend line of the channel down pattern, which has guided the pair since March 17. However, the decline stopped at the 1.2510 mark, before the pair retraced to the 1.2550 level. Since Thursday afternoon, the pair has been fluctuating in the 1.2520/1.2550 range. Meanwhile, the 50-hour simple moving average
At midnight to Friday the GBP/JPY currency exchange rate reached the resistance of the 161.50 mark. Afterwards, a decline followed, which was expected to find support in the 50-hour simple moving average and the 160.50 level. However, the pair passed below these levels and by the middle of the day's trading had passed not only the mentioned levels, but also
On Friday morning, the AUD/USD shortly touched a new high level by reaching the 0.7535 level. However, the event was followed by a retracement downwards. At mid-day, the pair was finding support in the combination of the 50-hour simple moving average and the weekly R1 simple pivot point at 0.7497. In addition, the lower trend line of the channel up
The EUR/JPY passed the resistance of the 134.00 mark on Thursday. Eventually, the surge found resistance in the 134.75 mark, before a retracement down started. By the middle of the day's European trading hours, the currency exchange rate approached the support of the 50-hour simple moving average near 133.70. If the pair passes below the 50-hour simple moving average, the
At mid-day on Thursday, the price for gold broke the resistance of the 1,950.00 mark. By 14:00 GMT, it appeared that the price was confirming the 1,948.00/1,951.50 zone as support. In the case that the price for gold surges higher, it might encounter resistance in the 1,960.00 mark, which had acted as support on March 11. Above the round price
The retracement of the USD/JPY currency exchange rate downwards has ended. The pairs most recent surge is being attributed to the approaching 50-hour simple moving average. By 14:00 GMT, the pair was approaching the 122.00 mark, which was strengthened by the close by weekly R3 simple pivot point at 122.09. If the US Dollar reaches above the 122.00 level and the
The GBP/USD currency pair has been trading below the zone at 1.3195/1.3210 since mid-Wednesday. On Thursday, the pair shortly touched the 1.3160 level, before returning to the resistance zone. If the currency exchange rate declines, it could once again look for support in the 1.3160 level, before approaching the 200-hour simple moving average near 1.3140. Further below, note the support
On Wednesday, the EUR/USD bounced off the support zone at 1.0960/1.0970. The event was followed by a recovery, which found resistance in the combination of the 50 and 200-hour simple moving averages near 1.1010. The resistance was enough to cause a decline. At mid-day on Thursday, the pair remained between the 1.0960/1.0970 zone and the 1.1000 mark. If the Euro
On Wednesday, the USD/CAD managed to reach below the support zone of 1.2565/1.2575. However, afterwards the rate did not sharply decline. More in-depth research revealed that the currency pair has been declining in a channel down pattern since March 17. At mid-day on Thursday, the pair was trading between the 1.2560 and 1.2580 level, mostly ignoring technical levels. In regards