Weekly reviews

USDJPY

Market approaches the resistance level 112.59 (upper Bollinger band), from where a downward bounce is expected - ADX resides in a weak area, at the same time continuing its decline, that tells about absence of trending potential in the upward movement (and, correspondingly, low probability of strong level break).

Cryptocurrencies

Mid-term flat trading within the range of lower Bollinger bands (5306.45-7128.36) preserves. ADX is in an extremely weak area, that tells about high probability of flat continuation.

GBPUSD

Development of upswing continues in direction 1.3268 and 1.3440. Last week bulls successfully neutralized “the cross”, that might be a signal of downswing start, and it’s a sign of upward movement continuation.

EURUSD

Market is still bracketed in the range of the last short swing (1.1532-1.1717) so far. Perhaps, this tendency will be continued. However, we have to note, that bulls have better chances - bar of the previous week covered the fortnight range, almost having broken the swing’s high. Thus, we have to consider resistance 1.1717 as a key zone - in case of break, the major will recover towards 1.1850 and, perhaps, higher.

USDJPY

Consolidation of the market within upper Bollinger bands (110.26-112.42) continues, after that, supposedly, bears will try to break into the lower bands.

Cryptocurrencies

Trading within the range of lower Bollinger bands (5306.45-7384.56) continues. Movement phase is downward, therefore it’s possible to consider short-trades in direction 5306.45 intraweek.

GBPUSD

 After forming of a short upswing, a new downswing was launched. Obvious target of bears is the structure’s low 1.2661.

EURUSD

Trending downswing has started. Potential of further decline is the 1.1304 handle, where the structure’s low resides.

USDJPY

Tendency for the major’s flat in the range of upper Bollinger bands (109.99-112.69) preserves. ADX continues to fall, residing out of the trending area.

GBPUSD

Upswing is completed, that, formally, allows the new downswing to start within long-term downward structure. But, since there was no direct signal of stopping or reversal of the upward movement, the opportunity to renew the current swing highs in direction of the areas 1.31 and 1.32 exists.