USDJPY, EURUSD, GBPUSD, and Bitcoin Monthly Overview

USDJPY: Navigating Key Psychological Levels

The USDJPY pair has been trading within a descending channel, reflecting a cautious market sentiment influenced by US-Japan trade tensions and central bank policies. A critical psychological level to watch is 150.00, which has historically acted as both support and resistance. Currently, the pair is trading below this level, indicating potential weakness. The top of the descending channel serves as a key resistance zone, while the bottom of the channel provides support. If the pair breaks below the channel, further declines could target the next major psychological level at 145.00. Conversely, a breakout above the channel could see the pair retesting the 150.00 level as resistance.

• Monthly Resistance: Top of the descending channel (currently near 151.00), with 150.00 acting as a psychological barrier.
• Monthly Support: Bottom of the descending channel (around 146.00), with 145.00 as a key psychological support level.

Broader factors, such as the Federal Reserve’s interest rate decisions and the Bank of Japan’s monetary policy, will continue to play a significant role in shaping the pair’s direction. Traders should also monitor US-Japan trade developments, as any escalation could strengthen the Yen as a safe-haven currency.

EURUSD: Long-Term Uptrend with Key Support Zones

The EURUSD pair remains in a long-term uptrend, supported by a series of higher lows and higher highs. Recent price action has highlighted 1.0732 as a crucial monthly support level, which has held firm over multiple tests. If this level is breached, the pair could see a deeper correction towards the major support zone between 1.0600 and 1.0527, a area that previously acted as resistance and is now expected to provide strong support. On the upside, the pair faces resistance near 1.0800, with further gains potentially targeting 1.0900.

• Monthly Resistance: 1.0800 (recent highs), with 1.0900 as the next key level.
• Monthly Support: 1.0732 (immediate support), followed by the major zone at 1.0600–1.0527.

The European Central Bank’s (ECB) cautious approach to rate cuts and the Federal Reserve’s policy decisions will be key drivers for the pair. Economic indicators, such as inflation and employment data from both the Eurozone and the US, will also influence sentiment. Traders should watch for any shifts in the ECB’s stance, as a more hawkish tone could bolster the Euro.

GBPUSD: Ascending Channel with Correction Risks

The GBPUSD pair is currently trading within an ascending channel, indicating a bullish bias. However, the pair has recently faced resistance near 1.3000, a psychological level that has capped gains. A correction from this level could see the pair retracing towards support at 1.2835 and 1.2770, both of which align with the lower boundary of the channel. If the pair holds above 1.2770, it is likely to resume its upward trajectory, potentially targeting 1.3100–1.3300 later in the year.

• Monthly Resistance: 1.3000 (psychological level and recent high), with 1.3100 as the next target.
• Monthly Support: 1.2835 (immediate support), followed by 1.2770 (key channel support).

The Bank of England’s (BoE) monetary policy and UK economic data, such as inflation and employment figures, will be critical in determining the pair’s direction. Political events, including the UK’s Spring Budget Statement, could also introduce volatility. Analysts remain divided on the pair’s outlook, with some expecting moderate growth and others anticipating increased uncertainty.

BitcoinUSD (BTCUSD): Bullish Momentum with Key Levels in Focus

Bitcoin (BTCUSD) has shown resilience, with key support and resistance levels guiding its price action. The cryptocurrency is currently trading within a range, with $78,446 acting as a significant support level and $85,188 as a key resistance. A break above $85,188 could open the door to further gains, potentially targeting $87,341 and $90,907. On the downside, if the $78,446 support fails, the next major support lies at $70,000, a psychological level that has historically attracted buyers.

• Monthly Resistance: $85,188 (immediate resistance), with $90,907 as a higher target.
• Monthly Support: $78,446 (current range low), followed by $70,000 (psychological support).

Market sentiment remains cautiously optimistic, driven by long-term holders accumulating Bitcoin despite short-term profit-taking. Price predictions for 2025 suggest a potential high of $221,485, indicating strong bullish expectations. However, traders should remain vigilant for regulatory developments and broader market trends, as these could impact Bitcoin’s volatility.

Conclusion

Each of these assets presents unique opportunities and challenges, with their monthly resistance and support levels serving as critical guides for traders:

• USDJPY is navigating a descending channel, with 150.00 as a key psychological level.
• EURUSD remains in a long-term uptrend, with 1.0732 and 1.0600–1.0527 as vital support zones.
• GBPUSD is in an ascending channel, facing resistance at 1.3000 and support at 1.2770.
• BitcoinUSD is range-bound, with $85,188 as resistance and $78,446 as support, amidst bullish long-term forecasts.

Traders should closely monitor these levels while considering broader economic and geopolitical factors, as these will likely influence price movements in the coming months.

**** This article is NOT advice or recommendation to trade any pair. It just represents my thoughts without any liability on me or followme. Trade with caution and responsibility ****.

#OPINIONLEADER# #USDollar# #Fed# #GBP/USD# #EUR/USD# #Bitcoin#