USD/JPY, Technical Analysis – H1
The pair continues to consolidate and build tension ahead of a likely downward reversal, for which a signal was formed earlier.
The pair continues to consolidate and build tension ahead of a likely downward reversal, for which a signal was formed earlier.
The pair is currently undergoing a moderate upward correction in both pace and magnitude.
Bulls have so far failed to break through the key resistance at $64,000.
Gold is hovering precariously near $4,343 per ounce, attempting a fragile intraday stabilization after locking in a severe multi-day drop.
Brent crude is currently trading lower at $94.63 per barrel, wiping out yesterday's early session momentum.
The pair has moved into an upward correction with sufficient room ahead up to 1.3415.
The market is trading in the middle of the range between two gaps around $92.00 and $98.00.
The sharp decline may draw sellers’ attention, but with high probability the market will punish late entries.
A potential shift of initiative to the sellers.
Bulls successfully defended the psychological $60,000 zone, establishing the foundation for an upward technical correction
Gold is hovering precariously near $4,329 per ounce, locking in a severe 4.60% weekly drop that has firmly shifted near-term control to macroeconomic short-sellers.
Brent crude surged as much as 6.14% in early trading to a local high of $98.77 per barrel
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