Market Technical Analysis by RoboForex

[RBFX Support]

USDJPY tests resistance: the yen gears up for a correction out of the sideways channel

The yen's strengthening has stalled, with the USDJPY pair poised for a correction. The USDJPY rate currently stands at 154.45.

Technical outlook

On the daily chart, the USDJPY pair continues to trade below the previously established 155.15 support level, while a new support level has not yet formed.

The outlook for the USDJPY rate remains moderately negative.

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]

ETHUSD approaches key support level

ETHUSD remains under pressure after another failed test of a strong resistance level, with the price currently trading at 2,480 USD. 

Technical outlook

ETHUSD remains above the EMA-65, indicating that buyers still have upside potential. However, bulls' renewed attempts to break above the 2,520 USD resistance level are again encountering active selling pressure. 

The prolonged struggle by buyers against the 2,520 USD resistance level increases the risk of ETHUSD falling towards 2,365 USD.

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