23 October 2025,02:18
Chart The Market
23 October 2025, 02:18
EURJPY, H4:
The EURJPY pair has staged a convincing bullish reversal, successfully defending the critical support level represented by the recent price gap. The formation of a distinct higher-low price pattern at this level signaled a potential trend shift, which was subsequently confirmed by a decisive break above the short-term resistance line at 176.55. This breakout solidifies the bullish technical bias and suggests a resumption of the underlying uptrend.
The bullish perspective is further reinforced by strengthening momentum indicators. The Relative Strength Index (RSI) is advancing towards overbought territory, reflecting sustained buying interest. Simultaneously, the Moving Average Convergence Divergence (MACD) has found support above its zero line and is showing signs of rebounding, indicating that positive momentum is accelerating.
With the pair now trading above the former resistance-turned-support at 176.55, the path of least resistance appears skewed to the upside. The immediate focus shifts to how the pair behaves near overbought conditions and whether it can sustain its momentum to challenge the next significant resistance level.
Resistance Levels: 177.78, 180.20
Support Levels: 175.40, 173.45
BTC, H1
BTC has entered a phase of consolidation, trading within a narrow range following recent volatility. The price action has established a foundation near a critical liquidity zone, forming a potential double-bottom pattern—a classic technical structure that often precedes a bullish reversal.
The immediate challenge for the bulls is a decisive break through the nearby Fair Value Gap (FVG), which presents resistance near the $110,000 mark. A sustained move above this level would confirm the bullish reversal pattern and likely trigger the next leg higher.
However, this constructive price setup is tempered by neutral-to-bearish momentum indicators. The Relative Strength Index (RSI) is hovering neutrally around its mid-point, while the Moving Average Convergence Divergence (MACD) is flowing flat beneath its zero line. This suggests that while the sell-off may be stabilizing, bearish momentum remains intact and buying pressure is not yet dominant. The current technical picture presents a conflict between a potentially bullish price pattern and lagging bullish momentum. The outcome hinges on BTC’s ability to conquer the $110,000 resistance, which would likely force a reassessment of the momentum indicators.
Resistance Levels: 112,450.00, 117350.00
Support Levels: 103,650.00, 98,650.00
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