GBP/JPY encounters resistance in pivot point

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


The GBP/JPY pair's surge eventually encountered resistance in the weekly R1 simple pivot point at 162.61. Afterwards, a decline followed, which on Tuesday morning found support in the 162.00 level. In the meantime, the rate appears to be also being impacted by the support of the 50, 100 and 200-hour simple moving averages in the 161.75/161.95 range.

In the case that the pair reaches above the weekly R1 pivot point at 162.61, the rate could encounter resistance in the upper trend line of a channel up pattern and the 163.00 mark. A breaking of the pattern and the 163.00 level would highly likely result in a move up to the weekly R2 at 163.69 and the August high level zone at 163.55/163.90.

However, a decline of the Pound against the Yen would look for support in the 161.70/162.00 range where the weekly simple pivot point and the 50, 100 and 200-hour simple moving averages are located at. Further below, note the 161.50 level and the lower trend line of the channel.
Back to articles

Actual Topics

Tue, 30 Aug 2022 09:35:07 GMT

USD/CAD declines below 1.3000

On Tuesday morning, the support of the 50-hour simple moving average, the 1.3000 mark and the weekly simple pivot point at 1.2996 failed. Moreover, by 09:00 GMT, the pair had reached below the 100 and 200-hour SMAs near 1.2980. An extension of the decline of the US Dollar compared to the Canadian Dollar could look for support in the weekly S1

Tue, 30 Aug 2022 09:15:03 GMT

AUD/USD breaks resistance levels

On Tuesday morning, the AUD/USD currency exchange rate broke the resistance of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point near the 0.6920 level. A continuation of the surge of the Australian Dollar against the US Dollar might encounter resistance in the weekly R1 simple pivot point at 0.6980 and the 0.7000 mark. Higher

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.