Intraday forex analysis covering USDJPY , XAGUSD , and NAS 100 analysis with a focus on key market movements, support and resistance levels, and short-term price action trends across major currency pairs.
USDJPY hitting fresh lows
The US dollar is under pressure as the Yen’s strength drags the pair lower. The pair has hit a multi-week low amid the sell-off.
- A break below 159.00 could extend the rally to 158.60.
- 159.80 at the top of the last uptick is the first level of resistance.
- 160.00 is the target ahead to keep the pair elevated.
XAGUSD bounces higher
Silver continues to push higher as the metal market looks poised for a rally. After finding support at the mid-$74 area, prices have advanced further. The precious metal took note of the recent bounce on the RSI, after previously dropping away from this month’s high above $82.
- Another bullish breakout needs a close above 80.00.
- In the meantime, 74.50 is the first support in case of a pullback.
- 70.00 is a critical floor if prices move lower.
NAS 100 remains bullish
NAS 100 analysis shows The Nasdaq is looking to extend the rally as tech-heavy stocks lead the way. It seems traders are waiting for a clear resistance zone before a pullback ensues.
- A decisive break above 28000 would hint at another push higher in the days to come.
- A potential pullback would see 26500 as the first support.
- A continuation lower would test the next level at 25800.
