GBP/JPY plummets below 157.00

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


The all out market sell off, which started at mid-day on Wednesday due to the US CPI release, also impacted the GBP/JPY rate. Namely, the risk off sentiment caused a surge of the Japanese Yen. On the GBP/JPY charts it resulted in a passing of the support zone at 160.08/160.43. Afterwards, a sharp decline started. By 08:00 GMT, the GBP/JPY had reached below the 157.00.

The ongoing decline could look for support in the 156.50, 156.00 and 155.00 levels, which acted as support and resistance in late March. In addition, note that the weekly S3 simple pivot point at 156.00.

Meanwhile, a recovery of the rate could face resistance in the weekly S2 simple pivot point at 158.16 and the 158.50 and 159.00 levels.
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Actual Topics

Thu, 12 May 2022 08:21:16 GMT

USD/CAD support and resistance are spotted

The volatility of the US Consumer Price Index confirmed previous high and low level zones as resistance and support. Namely, support is located at 1.2910/1.2925 and resistance is at 1.3037/1.3053. On Thursday morning, the pair was testing the resistance zone. A move above the resistance zone would result in a surge that might encounter resistance in the 1.3100 and 1.3150

Thu, 12 May 2022 08:00:08 GMT

AUD/USD decline reaches below 0.6900

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