BNB/USD has been able to reverse from this weekend’s darkest depths, and this short term test of highs will certainly challenge the opinions of speculators.

BNB/USD is trading near 222.0000 as of this writing. This short term high is testing ratios seen on the 17^th of June when Binance Coin came within sight of the 220.0000 level also. However this past Saturday as most speculators know, BNB/USD moved towards a low on nearly 182.5000, as the broad cryptocurrency market experienced a wicked selloff of mammoth proportions. The ability of BNB/USD to climb higher is noteworthy, but the reversal likely doesn’t mean the long term bearish trend is dead.

BNB/USD has been able to produce a solid move higher in the past two days. But skeptical traders who believe more downside momentum is going to be generated may actually look at the recent results and consider selling positions around the current price levels. If BNB/USD is able to trade above the 222.0000 and sustain this price action it would be a positive sign, but Binance Coin likely needs to pass the 225.0000 juncture and show it can sustain this value to encourage additional technical buying speculators.

While the current move upwards may be encouraging to some traders, speculators who have pursued the long term bearish trend in the broad cryptocurrency markets remain strong as a group.  The downward trajectory of BNB/USD mirrors the overall price action of its major counterparts and the recent move higher may be looked upon as a ‘suckers rally’.

If BNB/USD were to build momentum from its current price this could certainly be enticing for short term moves targeting the 223.0000 to 225.0000 ratios. However, this move upwards could also trigger selling positions, which believe lower moves will be ignited based on the assumption bearish momentum will show its strength again.

Short term traders should be ready for choppy conditions over the next couple of days.  Reversals higher have certainly taken place and some traders may want to grasp for quick hitting buying positions which target nearby resistance as take profits goals. However, until a considerable amount of resistance levels are toppled, sellers may continue to dominate price action as they seek the return of strong declines in the broad cryptocurrency market including BNB/USD.

If BNB/USD is not able to maintain the 2220.0000 level and slips below the 220.0000 mark, sellers may begin to feel that shorting Binance Coin is worthwhile.  If BNB/USD begins to show signs of weakness and suddenly cannot maintain its lower support ratios of 220.0000 to 218.0000, further erosion could quickly develop.

Binance Coin Short Term Outlook:

Current Resistance: 225.5300

Current Support: 218.1900

High Target: 237.5000

Low Target: 189.1600

The USD/JPY has created a whirlwind for Forex traders as they try to anticipate the gyrations of the Japanese Yen in fast and volatile conditions.

The USD/JPY touched values yesterday it had not traded since January of 2002. A high of nearly 134.540 was achieved before the Forex pair started to reverse off of this lofty height. Please note that the words all-time high were not used, because from May 1998 to September of 1998 USD/JPY traded above its current values. An apex of approximately 147.500 was hit in August of 1998.

While technical traders may not be interested in history lessons, what they are interested in are defined outlooks.  The current value of the USD/JPY is roaming extreme values as the U.S Federal Reserve has undertaken a hawkish monetary stance and contemplates higher interest rates, as the Bank of Japan appears ready to sit on their hands and not react.

However, the inactivity of the BoJ cannot be interpreted as doing nothing. The monetary goals the Bank of Japan has for the USD/JPY are complex, and certainly behind the scenes there must be talk about policy that is ongoing. In the meantime, financial institutions and speculators are left wondering what is going to happen next as the USD/JPY trades without any intervention.

A reversal off of highs yesterday has brought the USD/JPY below the 134.000 mark again. As of this writing the USD/JPY is trading near the 133.850 mark, but conditions are fast, and volatility is a constant threat. Speculators should remain conservative in this environment and choose their entry points to ignite trades carefully. Market orders may get a trader into a wager quickly, but there is a risk that prices fills could produce unexpected results.

The bullish trend of the USD/JPY is likely not over quite yet.  Determining the exact location when the USD/JPY will be overvalued remains difficult to guess. The U.S Federal Reserve is set to raise interest rates and make their pronouncement regarding their outlook for more hikes next week. Traders may get their best results by looking for support levels to be challenged and then launch buying positions to try and capture additional upside momentum.

The USD/JPY is certain to be choppy near term and speculators need to practice risk management. If the USD/JPY were to test the 133.750 to 133.600 levels it may be worthwhile to pursue a buying position that seeks a quick hitting trade upwards to capture a targeted take profit with a realistic goal.

USD/JPY Short-Term Outlook

Current Resistance: 134.150

Current Support: 133.570

High Target: 134.650

Low Target: 132.810

BNB/USD has slumped in price the past day and a half, as nervous speculators and legal shadows loom over Binance.

BNB/USD is trading near the 287.0000 mark as of this morning, on the 6^th of June Binance climbed to a high of nearly 312.0000. However, the broad cryptocurrency market remains fragile, and also creating potential headwinds among speculators are legal shadows which hover over Binance as regulators ask questions regarding the company’s business practices.

After falling below the 300.0000 level on Monday, BNB/USD did show price velocity downwards.  Yesterday’s prices action in BNB/USD did mirror the major cryptocurrencies and reversals higher have been accomplished in limited fashion this morning after hitting a low of nearly 283.0000 a few hours ago. This ratio should now be watched as support by day traders.

The 300.0000 level remains a natural target for speculative bullish investors, but buyers may be in short supply near term for BNB/USD. Traders are encouraged to keep their expectations realistic if they seek upwards movement in the short term. Digital assets including BNB/USD remain within sight of important support levels.

While Bitcoin and Ethereum did escape the clutches of their lower depths yesterday, there still does not seem to be a sparkling climb upwards that is about to be generated.  The long term bearish trend remains intact. Traders who believe Binance Coin is oversold are free to have their opinions and in the long term may be proven correct, but speculators seem to lack confidence and there appears to be a shortage of overwhelmingly strong bullish buyers who can turnaround the trend.

If support levels are aimed for in the short term this may prove to be a worthwhile wager, but traders should anticipate choppy conditions to linger.  However, if the 283.0000 ratio were to fail and prices below start to be flirted with another wave of selling could ignite rather quickly.

Yesterday’s low price for BNB/USD was near 274.0000 and another test of this level is certainly not out of the question near term. From a risk reward technical perspective combined with the fragile state of the cryptocurrency market, it would appear that BNB/USD has a greater chance to see greater volatility downwards compared to upwards momentum.

Potential bulls looking for upside price action should be careful and use tight take profit targets which aim for existing resistance levels.  A move above the 290.0000 would be a good first step for BNB/USD with a higher goal of 296.0000 perhaps too optimistic. If BNB/USD is not able to topple the 290.0000 mark in the short term, it may be a signal that consolidation is going to generate another move lower.

Binance Coin Short Term Outlook:

Current Resistance: 290.1000

Current Support: 284.6000

High Target: 303.9000

Low Target: 261.0000

AVAX/USD has produced volatility the past day, but the cryptocurrency has extended its run higher while also providing speculative fireworks.

The past day of trading in Avalanche has produced quick results, which are likely testing the fortitude of speculators who are pursuing AVAX/USD. In early trading today, Avalanche reversed lower after achieving a high yesterday of nearly 96.20000000, sinking to slightly below the 89.00000000 ratio a few hours ago. However, AVAX/USD quickly reversed higher after hitting this low and its bounce has taken the cryptocurrency above the 94.20000000 mark as of this writing.

Bullish technical traders may be fueled by an optimistic outlook as AVAX/USD is within sight of mid-February highs. On the 17^th of February AVAX/USD was trading above 98.00000000. Yes, on the 24^th of February Avalanche was trading a hair under the 64.50000000 mark, and then produced choppy trading higher until the 14^th of March when AVAX slumped again within sight of the 65.00000000 level. This is written as a warning to speculators who believe Avalanche will not slide lower again.

However, like the broad cryptocurrency market AVAX/USD has been able to produce a solid trajectory higher for almost two weeks.  Volatility is not extinct; there will be fast moves within AVAX/USD that is promised. Speculators need to understand Avalanche can move in a hurry and entry price orders are strongly advised.

If AVAX/USD is able to sustain its current price range and shows ability to keep trading above the 94.00000000 today, this may be a solid signal that speculators may be anticipating higher moves. The recent move upwards in AVAX/USD still has the cryptocurrency within the lower realms of its six month charts, but Avalanche is certainly showing signs of challenging highs within its three month pattern.

 If AVAX/USD picks up additional momentum and the 95.0000000 and 96.00000000 marks are suddenly challenged again, some optimistic bulls will likely target higher ratios like the 98.00000000 juncture. The broad cryptocurrency market and the major digital assets are showing signs of life, and are flirting with important mid-term highs. If sustained trading starts to make resistance levels vulnerable another leg up may come sooner rather than later, including in AVAX/USD.

Traders need to use risk management effectively.  After sustaining a serious bearish trend since November, AVAX/USD is beginning to tangle with important resistance and show enough strength to create anticipation of higher values. However, until AVAX/USD breaks above the 98.00000000 level, traders may remain suspicious about potential reversals lower also.

Avalanche Short-Term Outlook

Current Resistance: 95.60000000

Current Support: 93.55000000

High Target: 98.90000000

Low Target: 88.85000000