Market Technical Analysis by RoboForex

[RBFX Support]

USDJPY: optimism persists

The USDJPY pair is trading at 162.38, with the yen coming under pressure from many factors.

Technical outlook

On the H4 chart, the USDJPY pair is trading around 162.38 and retains a moderately upward bias after recovering from the 161.95 area. Quotes are holding above the middle Bollinger Band, although the attempt to consolidate above 162.50 has not yet continued.

The USDJPY pair remains bullish.

Read more - USDJPY Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

[RBFX Support]

Bitcoin (BTCUSD) may rise, but it needs more support

Bitcoin (BTCUSD) climbed to 64,772 USD. The market is keeping a close eye on external developments and the US bill to create reserves. 

Technical outlook

On the hourly chart, Bitcoin is recovering after falling to the 62,400–62,800 area and is now trading around 64,770. The price is holding above the middle Bollinger Band and is again approaching the upper boundary of the indicator, signalling continued local demand.

The Bitcoin price is attempting to rise, but consolidation remains the baseline scenario.

Read more - BTCUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

[RBFX Support]

Ethereum (ETHUSD) gains bullish momentum thanks to shrinking supply

The ETHUSD rate is maintaining positive momentum amid rising investor demand and renewed interest in Ethereum, with the price currently at 1,925.

Technical outlook

ETHUSD is testing the upper boundary of the descending channel, with the price already consolidating above the upper boundary of the Double Bottom reversal pattern. This trend indicates stronger buying activity and increases the likelihood of continued upward momentum. 

The ETHUSD forecast for today remains positive, while the key factor for further movement will be buyers’ ability to overcome the 1,945 USD resistance level.

Read more - ETHUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team