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Investment Recommendations April 6th

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Investment Recommendations April 6th

Introduction

This article was posted on Thursday, 19:32, UTC.

USD/JPY: Short-Term Buy

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USD/JPY, 4-Hour Chart Analysis

The pair bounced higher off the support zone near the 110.25 level possibly forming a higher low on the 4-hour chart. The technical picture favors at least a re-test of the prior high near the 112.25 level with a clear stop-loss opportunity just below 110. The MACD momentum indicator shows a clear bullish divergence while being in the neutral zone.

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Once again, long-term bullish positions might also be initiated, given the importance of the 110 support zone. The 114.50-115 interval could serve as long–term target if the Dollar continues the rally that started last week, with a broader stop-loss placed near the 109 level.

Bitcoin: Long-Term Buy (Update)

 

Bitcoin, 4-Hour Chart Analysis

Bitcoin continued the series of higher highs and higher lows on the 4-hour chart as the recovery from the recent correction remains intact. The latest new 3-week high warrants a new stop-loss level slightly below the $1070 support zone. The short-term rally faces a strong test near the confluence of the declining trend-line and the $1200-$1215 zone.

A break-out over $1215 would open up the road to the prior all-time high, with only the $1260 level standing between $1215 and $1300. Further consolidation below the major trend-line is possible (forming a triangle pattern together with the rising long-term trend). Short-term traders could take some chips off the table near the $1200 level.

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Mate Cser

Mate Cser

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.

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