Market Technical Analysis by RoboForex

[RBFX Support]

USDJPY poised to extend its gains in line with the broader trend

The USDJPY pair retains upside potential amid a record rise in government bond yields, with the rate currently standing at 158.40.

Technical outlook

On the H4 chart, the USDJPY pair has formed resistance at 158.45, while the nearest support lies around 156.65. On the daily D1 timeframe, the key support level is located at 155.30, with resistance near 159.00. The broader trend remains bullish, although the price is currently consolidating within a sideways range.

In the short term, the USDJPY pair retains the potential for further gains, bolstered by a strong US dollar and the substantial interest rate differential between the US and Japan. 

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]

Ethereum awaits a signal from the Fed: a single inflation report could change market sentiment

Ethereum is attempting to recover ahead of the release of US CPI data, currently trading at 2,530 USD.

Technical outlook

On the ETHUSD H4 chart, the price has formed a Stick Sandwich reversal pattern near the lower Bollinger Band. At this stage, it could continue its upward trajectory as the pattern's signal plays out, with the upside target at the 2,635 resistance level. 

Regulatory changes and potential ETH accumulation by major investors remain supportive factors.

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

[RBFX Support]

XAUUSD awaits a decisive signal

Gold is awaiting the release of US inflation data and gearing up for a surge, with prices currently standing at 4,160 USD.

Technical outlook

On the XAUUSD H4 chart, prices have formed a Hammer reversal pattern near the lower Bollinger Band and could continue their upward wave as the pattern's signal plays out. Since XAUUSD remains within a descending channel, the upside target could be the 4,200 USD resistance level.

The release of US CPI data will be the main catalyst for today's session, as it could shift investors' expectations regarding monetary policy.

Read more - Gold 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