Energies
USDJPY rebounds, but fails to maintain 145.00 levels
USDJPY has been in a downtrend since 10 January of this year, evident by the lower highs on the daily chart. The pair broke the uptrend earlier this month, but failed to stay above the broken trend and continued to fall. The overall sentiment is still bearish on the dollar against the Japanese Yen. A daily close below 142.00 confirms the downtrend momentum.
Price is hovering around these short-term moving averages (MA 5, 10, 30) showing indecision in the market.
MACD shows weak momentum. The MACD line is slightly bearish suggesting consolidation or early stages of a bearish move. A correction towards 145.00 level is possible before continuing with the downtrend.
USDJPY Daily Chart
| Resistance | 144.73 | 145.43 | 146.25 |
| Support | 142.13 | 141.56 | 139.88 |
Bitcoin breaks a new record before experiencing a bearish correction.
Bitcoin shows a strong bullish momentum as the uptrend remains intact since April around $75,000. The crypto currency is experiencing a slight retracement from the historical level of $112,000.
Price is moving above the moving average MA(30), keeping the bullish structure strong. A bearish crossover on MA(5) and MA(10) indicates a potential decline towards $103,420 levels. It’s important to monitor price action and candlestick patterns as price touches the moving average MA(30). Failing to close below this dynamic support could open the door for more gains.
Bitcoin is still bullish overall, but the recent loss of momentum could lead to a deeper pullback toward $100,000 or even $95,000, especially if MACD weakness continues and volume remains low. Key support to watch lies around the $100,000 psychological level.
Bitcoin (BTCUSD) Daily Chart
| Resistance | $109,094 | $100,950 | $112,030 |
| Support | $102,218 | $100,630 | $97,961 |
Gold prices continue to fluctuate around the $3,300 level with no clear bias in the short term. Short term moving averages MA(5), MA(10) and mid-term moving averages Ma(30) show no clear indication on a specific trend. The focus turns to the near support and resistance levels on the daily chart.
Falling below $3,250 could result in more declines towards $3,120. A daily close above $3,369 opens the door for more upward movement towards $3,437
Gold Daily Chart
| Resistance | $3,367 | $3,433 | $3,468 |
| Support | $3,248 | $3,207 | $3,120 |
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