GBP/JPY decline approaches support zone

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


The GBP/JPY currency exchange rate appears to be declining in a channel down pattern since the middle of August. Most recently, the pair bounced off the resistance of the weekly simple pivot point and the 50, 100 and 200-hour simple moving averages in the 161.50/162.00 range.

If the pair continues to decline, it is set to look for support in the 161.00 and 160.50 levels, before it approaches the weekly S1 simple pivot point at 160.16 and the 159.50/160.00 zone. In the meantime, take into account that the lower trend line of the channel down pattern is crossing the support zone.

However, in the case of the Pound recovering against the Japanese Yen, the upper trend line of the channel and the technical levels in the 161.50/162.00 range might stop a surge.
Back to articles

Actual Topics

Wed, 24 Aug 2022 12:16:50 GMT

USD/CAD returns to trade near 1.3000

On August 24, the USD/CAD rate recovered from the 1.2950 level up to 1.3000. In the meantime, the pair did not touch the support line of the channel up pattern, which has been guiding the pair since August 10. In the case of the pair moving higher, the rate would have to pass the resistance of the 50-hour simple moving average

Wed, 24 Aug 2022 11:57:37 GMT

AUD/USD trades in sideways range

The AUD/USD currency pair has been trading sideways in a range between support at 0.6855/0.6860 and resistance at 0.6960/0.6970. In the meantime, it has been observed that minor support and resistance is being provided from time to time by the 50 and 100-hour simple moving averages near 0.6900. In the case of the Australian Dollar declining and reaching below the 0.6855/0.6860

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.