The USDJPY pair rose in its recent intraday trading, attempting to recover part of its previous losses. The pair is also trying to ease its oversold condition on the relative strength indicators, especially with the emergence of positive signals. However, this comes within the context of a dominant short-term bearish corrective wave, alongside continued negative dynamic pressure as the price trades below EMA50, which limits the chances of a near-term recovery.
The GBPUSD pair fluctuated on their recent intraday levels, however it remains stable above the key resistance level of 1.3360, this resistance was an expected target in our previous analysis, in a strong signals to confirm breaching it, taking advantage of its trading alongside steep bullish corrective trendline that indicates the strength of this track, attempting to gather the gains of its previous rises, and attempts to offload its overbought conditions on the relative strength indicators, especially with the emergence of negative signals from them, to gather its positive strength that might help it to resume its strong gaons on the near-term basis.
Bitcoin (BTCUSD) settles lower in its latest intraday trading after holding below the key resistance level at $75,500. This level was a price target in our previous analysis, and the decline reflects a natural profit-taking phase following earlier gains.
The price managed to ease its overbought condition on the relative strength indicators, regaining some positive momentum that could help it to breach this resistance. This comes as Bitcoin continues to trade above EMA50, which provides dynamic support and reinforces the stability and dominance of the main short-term bullish trend, especially with trading alongside major and minor supportive trend lines.
Crude oil prices continued to decline during recent intraday trading, reaching and stabilizing near the key support level at $87.00. This level had been a target in our previous analysis and provided the price with some positive momentum, allowing it to rebound slightly and trim part of its losses. The price is also attempting to relieve its clearly oversold condition on the relative strength indicators, especially with the emergence of early positive signals.
This comes amid the dominance of a short-term bearish corrective wave, along with continued negative pressure as the price trades below EMA50, which intensifies the overall bearish pressure.