GBP/JPY breaks pattern

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


A fundamental announcement of the Japanese government beat down all Japanese assets and the Yen on Wednesday. Namely, the government announced recently that it would support Ukraine and NATO in a potential war with Russia.

The news have caused a gradual fundamental surge of the rate, which broke the post January 12 channel down pattern. In addition, during late Wednesday's trading, the pair pierced the resistance of the 154.50 mark. The 154.50 has been acting both as resistance and support in the past week.

A clear surge above the 154.50 mark could reach the strong resistance cluster at 155.00. Namely, the 155.00 mark, the 200-hour SMA and the weekly simple pivot point are expected to act as resistance.

Meanwhile, a decline could potentially look for support in the previously passed resistance line of the channel down pattern. Further below, note the 50-hour simple moving average near 153.70.
Back to articles

Actual Topics

Wed, 26 Jan 2022 16:55:12 GMT

USD/CAD reacts to central banks

On January 26, the Bank of Canada made a Rate Statement. In general, the bank kept its Overnight Rate at 0.25% and is set to keep its investments in government bonds constant. However, the markets could have reacted to the news that the bank would remove its exceptional forward guidance on its policy interest rate. On the release, the USD/CAD reacted

Wed, 26 Jan 2022 16:36:54 GMT

AUD/USD breaks pattern

The support of the dominant pattern's lower trend line was enough to cause a breaking of the upper trend line of the junior pattern. The pair broke its resistance on a third attempt. In addition, the pair passed the 50-hour simple moving average's resistance. Meanwhile, the weekly S1 simple pivot point was ignored. However, the 0.7180 mark has been

Subscribe to "Fundamental Analysis" feed

Subscribe
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
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.