The USD/JPY pair has experienced a substantial decline recently, reaching a low of 151.93 before beginning a recovery phase. However, the pair is facing significant resistance levels, with the main hurdle at 155.50. A clear break above this resistance could push the pair towards the 156.20 level. On the other hand, immediate support is seen near 152.80, with a major support level at 152.00. A breach below 152.00 could lead to further losses, potentially targeting the 150.50 level.
Crude oil prices are currently at risk of further downside movement towards $75.00. This decline could be attributed to various factors, including supply-demand dynamics, geopolitical tensions, and economic indicators.
Ethereum witnessed bearish movements recently, dropping below the $3,350 support level. If the bearish sentiment continues, ETH may test the $3,020 level. This could be influenced by factors such as market sentiment, technological developments, regulatory news, and overall cryptocurrency market trends.
US economic indicators, including Personal Income and Core Personal Consumption Expenditure data for June 2024, are also important factors to consider in the market analysis. Forecasted figures suggest a marginal increase in both indicators, which could impact the USD/JPY pair and overall market sentiment.
The USD/JPY pair is currently facing key resistance levels, while crude oil prices and Ethereum market movements indicate potential downside risks. Additionally, economic data releases could provide further insights into market trends and investor sentiment. Traders and investors should closely monitor these indicators and trends to make informed decisions in the volatile financial markets.
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