Traders Edge: Market Briefing 25/01/23

In today’s Trader’s Edge Market Briefing, Tomasz discovered the following unique setups you might find interesting.

USDJPY tests the upper line of the channel down pattern and the 131.5 resistance, which is a good chance for a bearish bounce

GBPJPY drops below the 161 support, which may lead to a further decline

EURUSD confidently trades close to the local highs, showing no signs of weakness

SP500 broke the long-term down trendline but at the same time, buyers lost momentum, which may be dangerous

DAX continues trading inside of the short-term pennant

Gold trades similarly to the EURUSD, pretty confident close to the long-term highs

WTI Oil reverses to test the neckline but this time, from the top

EURPLN still holds above 4.7, which is a key support at the moment

CADCHF continues the rise after a strong bounce off the 0.678 support