Article details
The USD/JPY pair extended its gains, trading above 161.50 as bullish momentum remains strong. A key ascending trend line is forming on the 4-hour chart with critical support at 161.20. Meanwhile, Bitcoin fell sharply to a multi-week low below $60,000, and EUR/USD faces downward pressure if it remains below 1.1500. Technical analysis indicates the US Dollar is maintaining support above 159.20, suggesting further upside potential.
For forex traders, the USD/JPY trend line's integrity is critical for confirming the bullish bias. Bitcoin's volatility highlights risk-off sentiment in global markets, which could impact cross-asset correlations. EUR/USD's 1.1500 level serves as a psychological barrier, with breakdowns likely to influence broader dollar demand.
Investors should monitor the USD/JPY's 161.50 resistance and 161.20 support levels for trend continuation signals. Bitcoin's $60,000 level and EUR/USD's 1.1500 threshold will also be key technical junctures. Central bank policy divergences and geopolitical risks remain secondary factors to watch.
