Traders are shorting USDJPY after the price rejects key resistance at 114.200. On the contrary, Bitcoin bulls are marching on as price creates a new all-time high.
Bears have taken control of USDJPY as price rejects a key monthly resistance zone. Price has already printed several shooting stars on the weekly at this level and now the smaller timeframes are showing signs of bearishness too. Traders could see the price tumble down to 107.500 in the coming weeks.
Bitcoin is thriving with bullish energy as price creates a new all-time high at $68,550. Traders could expect higher prices in the coming days and weeks as price action remains bullish on the higher time frames. Price action predicts that the price could reach $70,000 by the end of the week.
.
Tomorrow is the CPI data release for the US economy and current forecasts are bullish with an expected result of 0.6%. A result worse than this could cause Dollar bears to gain even more momentum to the downside and reach the quarterly low of 93.500.
For more Forex content like this:
- Sign up to become a Pro Trader
- Join our Discord server and chat with us
- Book a Demo with us to get a full tour
- See our Pro Trader Membership Pricing plans
- Read our previous blog article: Bitcoin En Route to $70,000 + Ethereum Trade in Deep Profits
