USD/JPY breaks pattern

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


The USD/JPY has broken the channel down pattern. Namely, the squeeze between the upper trend line of the pattern and the 50.00% Fibonacci retracement level at 108.35 ended with a break-out to the upside. By the middle of Friday's trading, the rate was reaching for the weekly R1 at 109.23.

If the weekly R1 simple pivot point holds, the rate could trade sideways until it is approached and pushed up by the combination of the hourly simple pivot points. However, note that this is a weekly pivot point. It is bound to move to another level at the start of the next week.

On the other hand, the rate could pass the pivot point on Friday and reach for the resistance of the 109.83 level, where the 61.80% Fibonacci retracement level was located at.
Back to articles

Actual Topics

Fri, 12 Mar 2021 10:04:58 GMT

Gold breaks patterns and drops

The yellow metal found resistance in the 1,740.00 level, which was enough for it to decline. The decline was only slowed down by the 55-hour simple moving average. However, eventually the SMA failed. By mid-day on Friday, the metal had reached the 1,700.00 mark. If the 1,700.00 mark provides support, the metal's price could trade sideways or retrace back

Fri, 12 Mar 2021 09:17:47 GMT

GBP/USD reached 1.4000 mark

At midnight to Friday, the GBP/USD reached the resistance of the 1.4000 mark. This level provided resistance and the currency exchange rate retreated. By the middle of the day's trading, the retracement down had reached the combined support of the channel up pattern and the 55-hour simple moving averages. The channel's line and the 55-hour SMA were most likely going to

Subscribe to "Fundamental Analysis" feed

Subscribe
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
For further information regarding potential cooperation,
please call us or make callback request.
Aby dowiedzieć się więcej o Opcjach Binarnych w Banku Dukascopy / platformach handlowych Forex, SWFX, oraz innych,
zadzwoń do nas lub pozostaw prośbę o oddzwonienie.
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.