USD/JPY breaks pattern

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


The lower trend line of the channel up pattern kept the USD/JPY up for 17 hours straight. On Wednesday, at 09:00 GMT, the currency pair passed below the trend line and a sharp decline had started. By 10:00 GMT, the pair had reached below 130.00.

The ongoing decline is expected to look for support in the combination of the 100 and 200-hour simple moving averages and the weekly simple pivot point in the 129.10/129.70 range. Further below, note that the 129.00 and 128.50 levels have acted as support and resistance.

On the other hand, a recovery of the US Dollar against the Japanese Yen could encounter resistance in the 50-hour simple moving average near 130.30 and the 130.50 level.
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Wed, 25 Jan 2023 11:00:29 GMT

Gold passes below support

On Wednesday morning, the price for gold passed below the 50 and 100-hour simple moving averages, the lower trend line of a channel up pattern and the 1,930.00 mark. Essentially, the price had declined due to bouncing off a resistance zone at 1,939.30/1,942.30. An extension of the decline could look for support in the 1,920.00 level and the 200-hour simple moving

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