Weekly reviews

USDJPY

Development of downward technical correction continues, which, probably, will be completed at the 111.17 hurdle, where the middle Bollinger band resides, that, traditionally, serves as a strong dynamic support for retracing movements.

Cryptocurrencies

Bitcoin continues dull mid-term downward flat in the range of lower Bollinger bands (5570.08-6790.94). Correspondingly, we can expect further slide in direction of the 5570.08 handle.

GBPUSD

Development of upswing continued. The structure’s high 1.3297 is located very close. In case of break above, an upward reversal of the trend will be performed, that will create premises for more intensive recovery of the pound in direction of the 1.3500 area.

EURUSD

The major couldn’t continue the forming of downswing, that, due to chaotic mode of the structure, will, probably, lead to flat continuation in the 1.1522-1.1731 range

USDJPY

Bulls poorly utilized the trending upward potential, however, the second close above upper Bollinger band took place after all. 

Cryptocurrencies

Bitcoin continues to stay within midterm side channel at the area of middle Bollinger band (5904.64).

GBPUSD

Sharp cut of the swing tells about high probability of trend upward reversal and, correspondingly, start of new upswing, which target will be the high 1.3300.

EURUSD

Bears broke the closest low and,thus, neutralized the probable reversal factor, which bulls could use two weeks ago. 

USDJPY

Upper Bollinger band is broken, that is a signal of pair’s growth continuation. At the same time, we have to note, that ADX didn’t reach trending area so far, therefore, there is a probability of prior downward pullback and getting more attractive buy points.

Cryptocurrencies

Trend strength indicator ADX is in a very passive state, that corresponds to continuation of bitcoin flat in either the narrow range of lower Bollinger band (5306.45-7090.44) or the full width of the bands (with resistance at the 8827.49 level). But more likely, we can consider only the first scenario.