#Bitcoin,#USDJPY Weekly Forecast (25-29 March 2024)

USD/JPY targets ¥155, Bitcoin eyes $75,000

Bitcoin

Bitcoin has had a rough week, reaching down toward the $60,000 level. The $60,000 level is an area that is important, and the market has shown that to be the case in the last week. Whether or not we can stay there remains to be seen, but if we were to break down below the $60,000 level, then it is likely that we could pull back to the $52,000 level. All things being equal, this is a market where you have to be either long, or on the sidelines. You cannot be a seller of Bitcoin, and therefore I think you are just looking for short-term opportunities to buy. If we were to break above the shooting star from the previous week, then you could go much higher, watching Bitcoin break well above the $75,000 level.

USD/JPY

The US dollar has rallied rather significantly against the Japanese yen during the trading week, as we continue to threaten a breakout above the ¥152 level. If we can break above that level, then it is likely that we could go much higher. All things being equal, this is a market that anytime we get a little bit of a pullback, buyers will come back into pickup value. In general, this is a market that I think has much further to go, perhaps to the ¥155 level before it’s all said and done.

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