25 June 2025,05:56
Chart The Market
25 June 2025, 05:56
EURJPY, H4:
The EUR/JPY pair has enjoyed a strong bullish run in June, gaining nearly 3% to reach its highest level in eleven months. However, the recent price action suggests the rally may be losing steam as the pair enters a critical phase that could determine its next directional move.
After peaking earlier this week, the pair underwent a modest technical retracement but found solid support above the psychologically important 61.8% Fibonacci retracement level. The formation of a Doji candlestick in the previous session indicates growing market indecision at current levels, often a precursor to either a continuation of the trend or a more pronounced reversal.
While the overall technical structure remains bullish, concerning signals are emerging from momentum indicators. The Relative Strength Index (RSI) has retreated from overbought territory, falling back below the 70 level, while the Moving Average Convergence Divergence (MACD) has formed a bearish crossover – what traders often refer to as a “death cross.” These developments suggest the bullish momentum that propelled the pair higher may be waning, potentially setting the stage for a trend reversal.
The key level to watch now stands at 167.60, which represents both a psychological round number and a crucial technical support. A sustained break below this level would likely confirm the bearish momentum shift and could open the door for a deeper correction toward 166.25. Conversely, if buyers can defend this support zone and push the pair higher, we may see another test of recent highs near 169.70.
Resistance Levels: 169.20, 170.75
Support Levels: 167.60, 166.25
BTC, H4
Bitcoin has staged an impressive 7% surge over the past two trading sessions, decisively breaking through the psychologically significant $105,000 level. This breakout suggests growing bullish conviction among traders, potentially signaling a shift in market sentiment. However, the cryptocurrency now approaches a crucial technical juncture as it nears the descending trendline resistance around $107,000 – a level that could determine whether this move represents a sustainable trend reversal or merely a temporary rebound within the broader downtrend channel.
The current technical landscape presents a fascinating conflict between bullish momentum indicators and prevailing chart patterns. On one hand, Bitcoin remains contained within a well-defined descending channel that has governed its price action in recent weeks. The $107,000 resistance level represents the upper boundary of this channel, and historical price behavior suggests this trendline has consistently capped previous rally attempts. A rejection at this level could see prices retreat toward the recently conquered $105,000 support zone, with potential for further downside toward $102,000 if selling pressure intensifies.
Contrasting this bearish chart structure, momentum indicators are flashing increasingly bullish signals. The Relative Strength Index (RSI) is approaching overbought territory, typically indicating strong buying pressure, while the Moving Average Convergence Divergence (MACD) has completed a bullish crossover above its zero line – a development that often precedes sustained upward moves. These conflicting signals create an environment where traders must exercise patience and wait for clear confirmation before committing to positions.
Resistance Levels: 111,745.00, 117,200.00
Support Levels: 104,950.00, 97,650.00
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