On Monday, the USD/JPY currency exchange rate was facing the resistance of the 55 and 100-hour simple moving averages near 110.80. In the meantime, the pair had the support of the weekly simple pivot point, the 200-hour SMA and the last week's low level in the 110.56/110.49 zone. In the near term future, the pair was expected to get squeezed in
On Monday, a channel down pattern was spotted. The pattern was formed in the aftermath of the rate passing the resistance of the 1.3940 level and testing the 1.4000 mark. In the meantime, note that the pattern's upper trend line was being strengthened by the resistance of the 200-hour simple moving average. If the pattern's resistance holds on Monday, the rate
The EUR/USD started the week's trading by finding support in the 1.1920 level and reaching the resistance of the 200-hour simple moving average, which had recently approached the rate from above. In the case that the rate passes the resistance of the 200-hour simple moving average near 1.1940, the pair would most likely extend the surge. An extension of
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In the aftermath of reaching below the 1,800.00 level, the yellow metal's price has been finding support and resistance in round price levels. For example, the 1,760.00, 1,790.00 and 1,770.00 levels have been acting as support and resistance levels. In the meantime, the rate confirmed the 1,800.00 mark as resistance. In the case of a potential surge, the price would have
This week, the USD/JPY surged above the technical levels near 110.20. Namely, the rate passed the 55, 100 and 200-hour simple moving averages and the weekly simple pivot point. In the near term future, the rate could be pushed up by the hourly simple moving averages, as the rate confirmed the 100-hour SMA as support together with the weekly simple
In the aftermath of the US Federal Reserve caused drop, the GBP/USD began a recovery, which appeared to have ended on Tuesday. Namely, the rate declined from a resistance zone just below the 1.3950 level, as soon as it was being approached from above by the 100-hour simple moving average. If the 100-hour SMA manages to continue to provide resistance, the
Since Friday, the EUR/USD currency exchange rate has been fluctuating between the support of the 1.1850 mark and the resistance of the 1.1925 level. In the near term future, the situation could change due to the approaching of the hourly simple moving averages from above. In the case that the rate passes the support of the 1.1850 mark, it could
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On June 16, the US Federal Reserve published the Federal Open Market Committee's Statement, Economic Projections and Federal Funds Rate. The main news that the markets reacted to was the revelation in the Economic Projections that the central bank could hike interest rates in 2023, as it expects an end to the coronavirus and growth of inflation. The announcement caused a