USD/JPY, EUR/USD, USD/CAD, Gold, Bitcoin Weekly Technical Outlook

Weekly Technical Trade Levels on USD Majors, Commodities & Stocks

• Technical setups we are tracking into the weekly open- Canada / UK CPI on tap
• Next Weekly Strategy Webinar: Monday, December 2 at 8:30am EST
• Review the latest Video Updates or Stream Live on my YouTube playlist.

In this webinar we take an in-depth look at the technical trade levels for the US Dollar (DXY), Euro (EUR/USD), British Pound (GBP/USD), Australian Dollar (AUD/USD), Canadian Dollar (USD/CAD), Japanese Yen (USD/JPY), Swiss Franc (USD/CHF), Gold (XAU/USD), Silver (XAG/USD),  Crude Oil (WTI), S&P 500 (SPX500), Nasdaq (NDX), Dow Jones (DJI) and Bitcoin (BTC/USD). These are the levels that matter on the technical charts into the weekly open / monthly close.

Japanese Yen Price Chart – USD/JPY Daily

Chart Prepared by Michael Boutros, Sr. Technical Strategist; USD/JPY on TradingView

We’ve been tracking this USD/JPY reversal off resistance for past few weeks and the pullback continues to respect support at a key inflection zone at 153.02/40- a region defined by the 61.8% retracement of the July decline and the May low-day close (LDC). Price has been contracting just above this zone and we’re looking for a breakout in the days ahead.

A break below the median-line would threaten a deeper correction towards subsequent support at 151.97-152.04 (the 52-week moving average / monthly open / 2022&2023 highs)- look for a larger reaction there IF reached. Key resistance steady 153.67 and a breach / close above would be needed to mark uptrend resumption towards the April high-close at 158.45.  

Economic Calendar – Key USD Data Releases

Economic Calendar - latest economic developments and upcoming event risk.

--- Written by Michael Boutros, Sr Technical Strategist

Follow Michael on X @MBForex