BTC 4 HOUR CHART
When something moves *in this case down) almost 6%, it is hard to give a technical view even though charts after the fact can look clear (note 2 blue AT lines signaled a potential top).
Given the way BTC trades, psychological or magic number levels might be a better guide.
In this regard, 60,000-65,000-70,000 will dictate how far this retracement goes.
USDCHF Analysis: Breakout and Potential Upside Movement
Following the breakout above the resistance of the descending price channel on the 4-hour chart, USDCHF has continued its upward trajectory by surpassing the 0.8794 resistance level and reaching a peak of 0.8852. This development suggests that the downward movement from 0.8892 may have concluded at 0.8729.
A further rally is likely in the upcoming days, with the next target set at the previous high of 0.8892. If the price manages to exceed this level, the focus could shift towards the 0.9000 area.
The initial support level to monitor is at 0.8794. Only a breakdown below this level could potentially trigger another descent towards testing the 0.8729 support level.
USDJPY 4 HOUR CHART
Some pre-BoJ meeting cold feet have JPY trading weaker
Offsets out of EURJPY buying are helping so far to keep EURUSD above 1.0867 (see post below)
Rising red AT lines show risk to the upside as long as it stays above 148.00-04 but…
Major resistance is not until the upper 150+ so not close to key levels.
A look at the day ahead in European and global markets from Kevin Buckland
European traders may do well to brace themselves for a sell-off on Friday, with equity markets sinking around Asia as investors adjust to the prospect of later and fewer Fed rate cuts this year.
Morning Bid: Rethink on Fed cuts creates tech wobble
USDJPY 4 HOUR CHART
Key levels are obvious
148.30 resistance (void above it)
148 sets the bias
USDJPY finding support despite the risk of the long-awaited rate hike next week, neutralized by higher US bond yields.
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