GBP/JPY drops due to UK PMIs

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


On Tuesday morning, the GBP/JPY currency exchange rate plummeted, as the Pound dropped due to a lot lower Purchasing Managers Index survey results. Namely, the UK Services PMI came in at 51.8, compared to the forecast of 56.9. By 09:30 GMT, it appeared that the decline had found support in the 159.00 level.

If the pair declines, support could be found in the 158.50, 158.00 and 157.50 levels. Most importantly, support is expected to be found in the 158.00 mark, which acted as support on May 18 and 19.

Meanwhile, a recovery of the Pound against the Japanese Yen might encounter resistance in the weekly simple pivot point and the 100-hour simple moving average at 159.65 and the 50-hour simple moving average near 160.10, before reaching the Monday's high level at 161.00.
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Tue, 24 May 2022 09:46:39 GMT

USD/CAD finds support in trend line

On Monday, the USD/CAD currency pair found support in the trend line, which connects the low levels of May 17, 19 and 20. On Tuesday, the currency pair was fluctuating between the support of the 1.2780 level and resistance at 1.2810. In the case of the USD surging against the Canadian Dollar, the pair would have to pass the 1.2810 level

Tue, 24 May 2022 09:12:05 GMT

AUD/USD declines below moving average

The recovery of the Australian Dollar against the US Dollar encountered resistance at the 0.7123/0.7126 zone and started a decline, which found support in the 50-hour simple moving average. On Tuesday morning, the AUD/USD currency exchange rate declined below the 50-hour simple moving average near 0.7080. If the pair continues to decline, it might find support in the combination

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