The situation on the USD/JPY charts remains unchanged. Since the start of Monday trading, the USD/JPY has continued to test the resistance of the 129.49/129.80 zone, which marks the May 10 and 11 low levels. Due to that reason, previous forecast scenarios remain unchanged. A move above the 129.80 level could encounter resistance in the 130.00 mark, before reaching the 130.50/130.60
After testing the resistance of the 1.2500 level for almost 24 hours, the GBP/USD failed. The event was caused by the release of the 9.00% year on year inflation being confirmed in the United Kingdom. The event resulted in a sharp decline to the 1.2375 level. During the decline, the currency pair passed below the support zone at 1.2400/1.2424, the
At midnight to Wednesday, the combined resistance of the 1.0550 mark, the weekly R1 simple pivot point at 1.0553 and the 1.0560 level were enough to cause a decline of the EUR/USD currency exchange rate. By the middle of the day, the pair had found support in the combination of the 1.0472/1.0492 zone and the 50 and 200-hour simple
Since the start of Tuesday's trading up to the middle of Wednesday, the USD/CAD currency exchange rate has been trading in the range between support at 1.2800 and resistance at 1.2850. In general, the pair was consolidating in the aftermath of the recent decline. A move below the 1.2800 mark could look for support in the weekly S2 simple
The GBP/JPY bounced off the resistance of the weekly R1 simple pivot point at 161.85 and traded between the 161.00 and 161.85 level during the second part of Tuesday's trading. On Wednesday, the rate declined below the 161.00 level's support and by the middle of the day had reached below 160.00. If the decline of the Pound against the Japanese Yen
The AUD/USD failed to reach the 0.7050 mark, as resistance was encountered in the 0.7040 level. Afterwards, a decline followed, which appeared to be finding support in the 0.7000 level. Since the middle of Tuesday, up to mid-Wednesday, the pair fluctuated in the 0.7000/0.7040 range. If the Australian Dollar resumes its surge against the USD, the pair would have to pass
During late hours of Tuesday's trading hours, the EUR/JPY currency pair encountered resistance in the 136.50/136.70 zone. Afterwards, a decline followed, which by the middle of Wednesday's European trading hours had reached the 135.550 level and the 50-hour simple moving average. If the Euro continues to decline, compared to the Japanese Yen, the currency pair might look for support in
The recovery of the price for gold shortly traded above the 1,830.00 mark at mid-day on Tuesday. An ongoing recovery of the commodity had broken the junior channel down pattern's resistance together with two simple moving averages and the 1,810.00/1,817.40 zone. If the commodity price continues to surge, it could encounter resistance in the combination of the 200-hour simple moving average,
Since the start of Monday trading, the USD/JPY has continued to test the resistance of the 129.49/129.80 zone, which marks the May 10 and 11 low levels. Due to that reason, previous forecast scenarios remain unchanged. A move above the 129.80 level could encounter resistance in the 130.00 mark, before reaching the 130.50/130.60 zone. Higher above, note the 131.00/131.33 levels. Meanwhile,
A broad decline of the US Dollar's value has resulted on the GBP/USD charts in a surge up to the 1.2500 mark. The 1.2500 level appeared to be acting as resistance at mid-day on Tuesday. If the Pound continues to recover against the Dollar, the pair would have to pass the resistance of the 1.2500 level. Higher above, note the
On Tuesday, the EUR/USD broke the resistance of the April low level zone and the 1.0500 mark. By the middle of the day's trading hours, the pair had reached the 1.0550 level and the weekly R1 simple pivot point at 1.0553. A move above the 1.0550 level and the weekly R1 simple pivot point at 1.0553 could encounter resistance in
On Tuesday, the USD/CAD currency pair reached below the 1.2850 mark and was heading to the 1.2800 level. A move below 1.2800, could look for support in the weekly S2 simple pivot point at 1.2781, the 1.2750 mark and the May low level zone at 1.2715/1.2725. On the other hand, a recovery is expected to encounter some resistance in the weekly
At mid-day on Tuesday, the GBP/JPY reached the 161.50 level's resistance. Future forecasts are based upon whether or not the resistance holds. In the case of the pair bouncing off the 161.50 mark, the rate could look for support in the 160.50 and 160.00 levels. However, these levels did not act as resistance during the pair's recent surge, which implies that
The recovery of the Australian Dollar against the US Dollar on Tuesday was heading to the 0.7050 mark. The round exchange rate level was expected to act as resistance, as it did on May 11. In addition, the weekly R1 simple pivot point is located at 0.7061. A move above 0.7050 and 0.7061 is highly likely set to encounter some resistance
The recovery of the Euro against the Japanese Yen has continued, as by the middle of Tuesday's European trading hours, the currency pair had reached the 136.00 mark. A move above the 136.00 mark is set to encounter resistance in the 200-hour simple moving average at 136.20, prior to approaching the 136.50/136.60 zone. The zone acted as support during
On Monday, the price for gold continued to decline, as the commodity price reached the lower trend line of the channel down pattern, which has guided the metal down since April 18. In addition, it was spotted that the price has been in a smaller scale descending pattern since May 5. At mid-day, the price had recovered and appeared to
During the first half of Monday's trading hours, the USD/JPY currency pair made two attempts at passing the resistance zone of the May 10 and 11 low levels at 129.49/129.80. A move above the 129.80 level could encounter resistance in the 130.00 mark, before reaching the 130.50/130.60 zone. Higher above, note the 131.00/131.33 levels. Meanwhile, the 129.80 level is set
At the start of the week's trading, the GBP/USD currency pair reached above the resistance zone at 1.2250/1.2255 and gradually approached the 1.2300 mark. However, on Monday morning, before reaching the 1.2300 level, the price retraced down to the combined support of the 50-hour simple moving average and the 1.2220 level. Afterwards, up to the middle of the day, the
The EUR/USD started the week by surging above a resistance zone at 1.0415/1.0420 and afterwards confirming it as support. In the near term future, a potential continuation of the surge of the Euro against the US Dollar could encounter resistance in the combination of the weekly simple pivot point at 1.0451, the 100-hour simple moving average and the 1.0450
On Friday, the USD/CAD dropped to the support zone at 1.2897/1.2922. On Monday, the rate had shortly recovered to 1.2975, before once again declining to the 1.2897/1.2922 zone. A move below the 1.2897/1.2922 levels could look for support in the 1.2850 mark and the weekly S1 simple pivot point at 1.2842. Below these levels, note the 1.2800 level and the weekly
On Monday, the GBP/JPY currency exchange rate traded between the support of the 157.50 level and the 50-hour simple moving averages and resistance at 159.00/159.25. A move below the 157.50 level could look for support near the 157.00 mark, prior to approaching the last week's low level zone at 155.60/156.00. However, a potential surge might encounter resistance in the weekly simple pivot
At midnight to Monday, the AUD/USD currency pair shortly reached above the weekly simple pivot point at 0.6945 and the 0.6950 level. However, after shortly touching the 0.6960 level, the rate declined back below 0.6900. If the Australian Dollar declines against the US Dollar, the currency pair might look for support in the early Monday's low level at 0.6875, before
Since the start of this week's trading, the EUR/JPY currency exchange rate has been testing the resistance of the 134.28/134.42 zone. Meanwhile, during early Monday's trading, the 134.00 mark acted as support. A decline of the Euro against the Japanese Yen below the 134.00 mark and the 50-hour simple moving average would look for support in the 133.50 level.
At mid-day on Friday, the price for Gold touched the 1,800.00 level, which acted as support and caused a recovery up to 1,820.00. If the metal continued to recover, expect the round levels at 1,820.00 and 1,830.00 to act as resistance. Meanwhile, take into account that short term support and resistance has been and could be provided in the future by