**Technical Outlook on USD/JPY, GBP/USD, and BTC/USD**
*Based on analysis by Fawad Razaqzada for Investing.com*
In the ever-volatile world of forex and cryptocurrency trading, technical analysis remains one of the most vital tools for traders seeking an edge in the markets. Fawad Razaqzada, a respected market analyst, recently published a thorough technical outlook on three major instruments: USD/JPY, GBP/USD, and BTC/USD. Below, we delve deeper into his analysis and discuss the current trends, key price levels, and technical indicators that are shaping trading opportunities across these markets.
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## USD/JPY Technical Analysis
The USD/JPY currency pair has experienced notable fluctuations amid shifting expectations of US monetary policy and Japanese central bank interventions. Recent movements in the pair reflect broader shifts in risk sentiment and the demand for safe-haven assets, as well as speculation about the pace and timing of future rate moves from both the Federal Reserve and the Bank of Japan.
### Overview
– **Recent Price Action**: USD/JPY surged earlier in the year, with bulls pushing prices to multi-decade highs beyond the 150.00 handle. However, intervention threats from Japan and a moderation in US rate hike expectations have triggered bouts of volatility.
– **Major Influences**: Diverging monetary policies between the Fed and the Bank of Japan are the key drivers, with the US pursuing aggressive tightening earlier in the year while the BoJ maintains ultra-loose conditions.
### Key Technical Levels
– **Immediate Support**: 153.60 region, a previous resistance now acting as a pivot.
– **Next Levels Down**: The 151.80 to 151.50 area remains important, given past interventions by Japanese authorities.
– **Resistance to Watch**: 156.00 to 156.50 zone marks recent highs and is critical for further bullish momentum.
### Technical Indicators
– **Moving Averages**: The pair remains above its 50-day and 200-day moving averages, reinforcing a dominant bullish structure.
– **Relative Strength Index (RSI)**: The RSI has retreated from overbought territory, now hovering around mid-levels—suggesting consolidation rather than a sustained reversal at this stage.
– **Trend Channels**: The long-term uptrend remains intact, though recent lateral movement reflects increased uncertainty.
### Trading Considerations
– **Bulls**: Should look for a daily close above 156.50 to confirm renewed upside momentum and a potential attack on new cycle highs.
– **Bears**: May become more active if the pair breaks beneath the 151.50 zone on increased volume, which could signal broader corrective moves.
– **Fundamental Watch**: Be alert for any BoJ jawboning or actual intervention, as well as surprises in US inflation or employment data.
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## GBP/USD Technical Analysis
The GBP/USD, commonly referred to as “Cable,” has been caught between negative UK economic headlines and shifts in global risk sentiment. Sterling’s fortunes have ebbed and flowed on changing Bank of England guidance, as well as sensitivities to global equity and commodity market trends.
### Overview
– **Recent Price Action**: After rebounding from multi-month lows near 1.2300, GBP/USD has found some stability, recovering ground above the 1.2600 level amid slightly firmer UK macro data and US dollar consolidation.
– **Major Influences**: UK inflation trends and expectations for BoE action remain paramount. The pair is also sensitive to risk appetite, given the UK’s reliance on external capital and trade flows.
### Key Technical Levels
– **Support Zones**: 1.2600 holds psychological and technical importance, with 1.2500 to 1.2480 marking a critical floor beneath.
– **Resistance Levels**: Initial upside targets at 1.2800 and then the March high near 1.2900.
### Technical
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