BNB/USD has mirrored its major crypto counterparts with a nosedive this morning towards important support, as trading conditions have displayed nervousness.

Volatile conditions seemingly are ahead today for the broad cryptocurrency market, and BNB/USD is mirroring the nervous sentiment early this morning. As of this writing, BNB/USD is near the 219.0000 level with fast price action. A sharp downturn has been exhibited across the board in the cryptos. Selling in the broad market yesterday has turned into greater price velocity downwards today.

Certainly BNB/USD like its major counterparts could reverse higher, but a lack of buyers appears rather evident as Binance Coin has shown little in the way of ability to stage a strong move higher. BNB/USD is still lurking near important support levels and this morning’s breach of the 220.0000 may have sparked some additional selling. If BNB/USD is not able to climb above the 220.0000 with a sustained move and challenge short term resistance slightly below the 221.0000 juncture this could be a negative indicator.

Skeptics still seem to outnumber optimists within the broad marketplace, and BNB/USD is a reflection of the large digital asset world because Binance Coin serves as the ‘token’ for the Binance exchange which is powerful part of cryptocurrency eco-system.   If BNB/USD continues to see pressure downward, the 219.0000 to 218.0000 should be monitored if this range begins to produce price action. A move below the 218.0000 level if it is sustained could signal additional selling will mount quickly.

The five day chart is clearly showing that BNB/USD is testing lows, but if a one month chart is used by technical traders it becomes clear there are potential lower depths that can be explored. BNB/USD is a fast moving cryptocurrency under normal conditions, but if the digital landscape becomes exceptionally volatile near term, Binance Coin can produce sudden spikes which can be dangerous.

Traders should use entry price orders to ignite trades today and conservative leverage is urged.  Traders who aim for lower targets by shorting BNB/USD when it comes close to resistance which proves durable may be making a worthwhile wager. Selling Binance Coin near the 220.4000 to 220.7000 levels could be considered if present conditions are maintained by conservative speculators. Traders should not be overly ambitious with their targets, but aiming for the 219.0000 to 218.5000 levels may prove to be opportunistic.

Traders should monitor not only Binance Coin this morning if they are considering a short position of BNB/USD, but also its major counterparts.  If other major cryptocurrencies continue to show weakness today, BNB/USD could be ready to fall to lower depths again.

Binance Coin Short-Term Outlook

Current Resistance: 220.9600

Current Support: 219.0900

High Target: 228.7500

Low Target: 204.1000

SOL/USD is trading near short-term highs in early trading this morning, and the ability of Solana to produce rather quick results on speculative wagers can prove enticing.

SOL/USD is trading near short-term highs as of this morning near the 36.0000 ratio.  On the 21^st of June SOL/USD did trade above the 39.0000 mark, this reversal higher was achieved after the cryptocurrency traded near the 28.6500 vicinity on the 19^th of June. Solana has mirrored the major digital asset marketplace and has suffered a strong bearish trend. However, SOL/USD continues to offer speculators a place to look for quick trading results which could attract those who like fast wagers.

Entry price orders should certainly be used when pursuing movement in SOL/USD. A live market order in SOL/USD is an open invitation to receive an unexpected price fill which could deliver a rather difficult trading path for a speculator.

While SOL/USD trades near short-term highs momentarily, traders may feel inclined to seek downside momentum which aims for nearby support levels. Because of the speed which Solana trades, speculators are also urged to use take profit and stop loss orders too, this so market action doesn’t escape trading targets in a dramatic fashion.

SOL/USD has been able to produce a rather stimulating move upwards the past handful of days after falling to its lower depths.  The move higher however, also occurred as the major counterparts of Solana were able to produce some buying power. Nervous sentiment remains abundant in the cryptocurrency marketplace and speculators who believe additional upside can be found beyond current resistance levels may want double check their perceptions.

36.8000 looks to be a rather solid resistance level for short term traders, if it is not toppled this may send a negative signal to traders.  If the 36.0000 juncture cannot be passed and sustained, this may ignite selling in SOL/USD.  Trading conditions in Solana dictate that conservative amounts of leverage are needed to make sure moves that go against the chosen direction of the trader doesn’t wipe out their account with a single adventure.

Support levels of 35.5000 to 35.000 should be monitored in the short term. If these support ratios start to look vulnerable, SOL/USD could quickly find that it is testing the 34.8000 ratio. If this lower value proves vulnerable this would likely indicate another downward dose of selling is taking hold and it could produce a near term move below the 34.0000 mark.

Solana Short-Term Outlook

Current Resistance: 36.8500

Current Support: 34.9000

High Target: 38.6000

Low Target: 33.6000

The USD/JPY spiked higher yesterday as financial institutions seemingly got the message the Japanese government doesn’t intend on changing its monetary policy anytime soon.

As of this morning the USD/JPY is trading above the 132.900 mark, which is a height not seen since April of 2022. In January of 2002 the USD/JPY traded at nearly 134.750 momentarily, so the current values of the Forex pair while breathtaking have been seen before. Financial institutions reacted quickly yesterday when the USD/JPY broke the 131.350 price which was seen as important resistance.

Technical traders who are trying to calculate current resistance levels have a choice of looking at twenty year old charts or picking psychological numbers they feel are appropriate.  While a rise above the 133.000 mark at the beginning of 2022 may have seemed farfetched, the reaction to the Bank of Japan’s decision to keep their current interest rate policy in place as the U.S Federal Reserve raises its rates is obviously having an effect on the USD/JPY.

Day traders need to be cautious. The USD/JPY can move extremely fast and certainly we are seeing values not traded in twenty years. However, the USD/JPY could continue to incrementally test new highs in the coming days as financial institutions try to find what they believe is a justified equilibrium for the pair.

Before traders say there is no way the USD/JPY can go much higher, they should keep in mind the values seen in January of 2002 near the 134.00 vicinity. Additionally they may want to consider the USD/JPY was trading near 144.000 in August of 1998.

Intriguingly the difference between short term speculators and long term investors may start to become rather dramatic in the coming weeks and months. While financial institutions try to take advantage of the difference in the higher U.S interest rate compared to Japan’s for the moment, there is a likelihood that at some point the loss of value in the Japanese Yen will curtail. The Japanese Yen remains an extremely vital currency in world trade and at some point it will gain value against the USD. The question is when this will happen and it may not occur near term.

Short term traders who are brave enough to try and pursue the upwards movement of the USD/JPY are urged to be cautious.  The ability of the Forex pair to act in lightning bolt moves is legendary. However, for the moment the Bank of Japan seems intent on letting the USD/JPY to continue traversing upwards. A move towards the 133.500 juncture in the near term would not be as surprising as some may think. Tactics such stop loss, take profit and entry price orders are urged for anyone trading the USD/JPY under the present market conditions.

USD/JPY Short-Term Outlook

Current Resistance: 133.090

Current Support: 132.430

High Target: 133.510

Low Target: 131.440