AUD/JPY 4H Chart: Breaches channel pattern

The Australian Dollar versus the Japanese Yen depreciated about 0.95% in value during last week's trading sessions. The currency pair breached the bottom border of an ascending channel at 75.29 during the Asian session on Thursday.

The exchange rate tested a support cluster formed by the combination of the 100– and 200-hour SMAs and the weekly and monthly PPs at 75.21 during the morning hours of today's trading session.

If this support cluster holds, a surge towards the weekly R1 at 76.30 could be the target for bullish traders next week.

However, if the pair passes the cluster as mentioned above, a decline towards the swing low at 74.57 could be expected in the short term.

AUDJPY

 

GBP/JPY 4H Chart: Pressure by 50– and 100-hour SMAs

The GBP/JPY currency pair has continued to edge lower after the pair reversed from the upper boundary of a descending channel pattern at 137.77. The British Pound has depreciated about 1.92% in value since July 1.

Everything being equal, it is likely that the exchange rate will continue its movement in the descending channel pattern during the following trading sessions. The potential target will be at 133.98.

However, a support level formed by the weekly S1 at 134.81 could provide support for the currency exchange rate in the nearest future.

GBPJPY

This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD: risk aversion could send it sub-1.1180

EUR/USD capped by a critical Fibonacci resistance for two weeks in-a-row. The American dollar has closed the week on a high note as hopes for significant rate cuts faded.

EUR/USD News

GBP/USD: bears to retake control on a break below 1.2475

Renewed demand for the greenback has resulted in the GBP/USD pair giving back half of its Thursday’s gains at the end of the week, with the pair closing it just above the 1.2500 figure.

GBP/USD News

USD/JPY: bearish case firmer once below 107.20

The USD/JPY pair flirted with the 108.00 level by the end of the week on renewed demand for the greenback but retreated sharply from the level to settle at around 107.70.

USD/JPY News

Something has spooked the Fed

We wish we knew what it is. Wild talk of the US joining Japan and Europe with zero or negative return on the 10-year is or should be very frightening.

Read more

Gold consolidates around $ 1440, eyes US data for fresh direction

Gold (futures on Comex) extends its side-trend around the 1440 mark into the mid-European session, having stalled its retreat from 2019 highs of 1454 near 1437 region.

Gold News

Majors

Cryptocurrencies

Signatures