USD/JPY: Short-Term Buy
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.
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.