J.J. Edwards’ Market Analysis at FenzoFx

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GBPJPY Bulls Eye 200.0 Amid Pullback​

FenzoFx—GBPJPY recently hit a higher high after breaking past 195.0 resistance but has pulled back to 194.7, approaching the 50-period SMA on the 2-hour chart.

The outlook remains bullish as long as the price holds above 193.5, with potential gains toward 200.0 resistance. However, a bearish wave could emerge if GBPJPY drops below the ascending trendline and 193.5 support, targeting 192.0.

 

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Bullish NATGAS Targets $4.26.​

FenzoFx—NATGAS broke above the descending trendline and surpassed $4.0. Strong buying pressure pushed the Stochastic Oscillator into overbought territory, indicating Natural Gas is overpriced in the short term. The market may consolidate near the $4.0 support level.

Currently, NATGAS trades around $4.135, holding above the 50-SMA. The price action suggests a bullish trend, with the next target at the $4.26 resistance.

 

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AUD/USD Eyes Fibonacci Support​

FenzoFx—AUD/USD broke below the critical support at $0.626, heading toward the 78.6% Fibonacci level. The bearish trend remains intact while the price stays below the $0.6329 resistance.

 

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NZDUSD Falls Amid Oversold Signals​

FenzoFx—NZDUSD dropped below the $0.5678 support level and is now trading around $0.5670. Selling pressure has pushed the Stochastic Oscillator into oversold territory, recording 8.0.

The next bearish target is $0.5640, provided NZDUSD stays below the $0.5755 resistance.

 

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Bitcoin Eyes $84,720 After Key Support Rebound​

FenzoFx—Bitcoin rebounded from the $81,160 support level and surged past $83,520, forming higher highs. If the price stays above this key support, the bullish momentum could continue.

The next upside targets are $84,720 and $86,340. However, if Bitcoin drops below $81,160, the trend may reverse, potentially falling to $77,850.

 

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Ethereum Price Rebounds: Key Levels to Watch​

FenzoFx—Ethereum's downtrend stabilized at $1,755, a key support level. Currently, ETH/USD trades at $1,854, testing resistance.

A double bottom pattern on the 4-hour chart suggests potential growth if bulls secure a close above $1,860. The next target could be $1,950, supported by the 50-period moving average.

 

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USD/CAD Pulls Back After Hitting 1.4400​

FenzoFx— The USD/CAD pair hit 1.4400 but lost momentum, pulling back from resistance. Technically, USD/CAD may dip toward the 50-period SMA near 1.4330 before resuming its uptrend.

However, if USD/CAD drops below 1.4330, the bearish momentum may extend to the 1.4250 support, invalidating the bullish outlook.

 

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Litecoin Tests Key Support: Reversal or Further Drop?​

Litecoin is currently testing a key support zone between $80.0 and $83.0, which previously marked its February low. The overall trend remains bearish, but this support level could trigger a price rebound, potentially shifting momentum in favor of buyers.

If Litecoin holds above $80.0, there is a possibility of a recovery toward $100.0.

However, if sellers manage to break below this critical level, the downward trend may continue, with the next target set at $75.0.

 

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XRP tests Key Resistance Level​

FenzoFx—Ripple (XRP) has climbed from $2.026 and is currently testing resistance at $2.218. Despite this upward movement, the overall trend remains bearish as the price stays below the 50-period simple moving average on the 4-hour chart.

The nearest support level is $2.026. If XRP/USD drops below this point, the downtrend may strengthen, potentially driving the price toward $1.90 and then $1.80.

For the bearish trend to reverse, XRP needs to break above the immediate resistance at $2.218. If that happens, the next target could be $2.355.

 

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USDJPY Technical Analysis​

FenzoFx—USDJPY tested 150.25, a trading range below this level and the 50-period simple moving average. A close above 150.25 can trigger the uptrend, targeting 151.2.

Conversely, a dip below 148.2 invalidates the bullish outlook, with 148.2 as the first target and 147.43 as the secondary target.

 

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AUDUSD Technical Analysis​

FenzoFx—The AUD/USD pair moved upward after struggling to stay below the 78.6% Fibonacci retracement level. Currently, the price is around $0.6300, sitting above the 50-period moving average.

If AUD/USD holds above the key support at 0.626, it may climb toward the next resistance at $0.6329.

However, if the price falls below 0.626, a bearish trend could follow, potentially pushing the pair down to 0.6187.

 

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GBP/USD Awaits Breakout Near 1.294​

FenzoFx—The GBP/USD pair is trading near $1.294, staying close to the 50-period simple moving average as the market remains indecisive. Since March 7, price action has been confined to a narrow range.

Bullish Outlook: A push above $1.3010 could trigger further gains, with $1.3100 as the next resistance.

Bearish Scenario: A drop below $1.2865 would weaken the bullish bias, potentially leading to a decline toward $1.2800.

 

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Solana Trades Sideway, Awaiting a Breakout​

FenzoFx—Solana trades sideways. A break below 122.7 can trigger a downtrend, targeting $112.3. However, the bearish outlook should be invalidated if Solana closes and stabilizes above 130.4.

 

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Crude Oil Dipped, Testing Critical Support Level​

FenzoFx—Crude oil dropped from $72.20 and is now testing the $68.8 support. The decline was expected as the Stochastic oscillator signaled overbought conditions.

If $68.8 breaks, the downtrend could extend to $67.6. However, a higher low above $70.15 would invalidate the bearish outlook, potentially pushing prices back to $72.20.