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BTC Daily Chart
Bitcoin continues to make its relentless move higher, leaving the record 68915 level as the only one left on the upside.
To be clear, I do not trade cryptos but it is hard to ignore its meteoric rise this year, up over 12% in 2 days and around +35% this year. Imagine if one of the major currencies had moves like this?
So, I will just post the chart and follow up with a monthly chart.
USDJPY 1-Hour Chart
Blue lines dominating, indicating some shift in risk to the downside or more of a two-sided market after another failure to take out 150.89
However, price action remains contained while within 149.53 and 150.89 where 150 should continue to set the bias
Supports on either side of 150: 149.93-150.01-150.12
150.54 needs to hold on top to keep the focus on 150 and away from 150.84-89
Why did USDJPY fall today?
Technicians will cite another failed run at 150.89 and market positioning that is heavily short JPY, both vs. the USD and on its crosses
Those who say news matters will cite the release of a smaller-than-expected fall in annual Japanese inflation in a market that is hypersensitive to any data that might prompt the BoJ to raise interest rates.,
AUDUSD Analysis: Sideways Move Continues, Resistance and Support Levels
The AUDUSD pair has been moving sideways within a trading range between 0.6521 and 0.6594.
As long as the 0.6521 support level holds, the pullback from 0.6594 could be seen as corrective consolidation for the uptrend from 0.6442. Another rise is still possible after the consolidation.
The initial resistance level is located at 0.6555. A breakthrough of this level could trigger another rise to test the 0.6594 resistance level. A breakthrough of this level would aim for the 0.6624 resistance level.
On the downside, a breakdown below the 0.6521 support level would indicate that the upside move has already completed at 0.6594. In this case, another fall towards the 0.6442 previous low could be seen.
NZDUSD 1-hour chart
Blue lines dominate, indicating risk on the downside.
Key support is clear at .6156-61, which needs to hold to prevent a further push to the downside. Should the support zone give way then .6150 (psychological) and .6128 are next.
On the upside, .6200 is the key resistance, minor at .6185 ahead of it.
Underperformers
NZDUSD and AUDUSD were the underperformers today,
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