GBPJPY Pair Analysis

Expected Scenario

• The GBPJPY pair succeeded in holding above the 197.10 level for a long time, forming a new additional support line, which eases the mission of renewing the bullish attempts and noticing its approach to the first additional target at 198.00.
• The major indicators continue to provide positive momentum, increasing the chances of touching 198.55 soon, followed by waiting to attack the 198.90 resistance line, which forms the key to detect the next main trend.

Expected Trading Range

Between 197.55 support and 198.90 resistance.

Platinum Price Analysis

Expected Scenario

• The platinum price repeated attempts to breach the $1081.00 barrier, reacting to stochastic positivity and forming a new bullish wave to touch the $1094.25 level, confirming its preparation to resume the bullish attack in the near and medium-term period.
• It is important to hold above the additional support at $1040.004 to ease the mission of confirming breaching the mentioned barrier and start targeting new positive stations that might extend towards $1105.00 and $1128.00.

Expected Trading Range

Between $1065.00 support and $1105.00 resistance.

Copper Price Analysis

Expected Scenario

• The copper price trades extended bullishly to slightly jump above the historical target mentioned in our previous report at $5.1900, followed by bouncing below $5.1600 as appears on the chart.
• Stochastic reach to the overbought areas might force the price to provide sideways trades, noting that forming solid obstacle at $5.1600 against the bullish attempts might assist to activate the correctional bearish track, to target $4.9000 before reaching any new positive target.

Expected Trading Range

Between $5.1700 support and $5.0000 resistance.

Ethereum Price Analysis

Expected Scenario

• The Ethereum price managed to touch the $3,132.80 level and encountered strong resistance, indicating a potential return to the correctional bearish trajectory.
• However, technical indicators provide positive signals that might assist in surpassing the mentioned level and opening the way for further gains in the upcoming period.
• Therefore, the contradiction between technical factors makes it preferable to stay aside until clearer signals for the upcoming trend emerge. Breaking above $3,132.80 will lead the price towards $3,360.31 as the next positive target, while breaking below $3,028.00 will push the price to resume the bearish wave, with targets beginning at $2,905.30 and extending to $2,800.00 followed by $2,623.80.

Expected Trading Range

Between $2,960.00 support and $3,200.00 resistance.