Bitcoin and Ethereum extended losses and remain at risk of additional downside.
The US Dollar remained strong above 146.50 against the Japanese Yen. USD/JPY jumped above 147.50 and 148.00 to set the pace for a fresh surge.
Looking at the 4-hour chart, the pair cleared a major declining channel with resistance at 147.50 to start the current surge. It settled above the 148.50 level, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour).
The pair even cleared the 149.13 high, opening the doors for more gains. On the upside, the pair could face resistance near the 149.80 level.
The first major hurdle for the bulls could be 150.00 since it coincides with the 1.236 Fib extension level of the downward move from the 149.13 swing high to the 145.48 low. A close above 150.00 could set the pace for another rally.
In the stated case, the pair could rise toward 151.40, above which the bulls could aim for a move toward 152.00. Any more upsides could send the pair toward 152.50.
On the downside, there is a key support at 148.80. The next area of interest might be 148.50. The main support could be 148.20. Any more losses might increase selling pressure and send USD/JPY toward 147.75 and the 100 simple moving average (red, 4-hour).
Looking at EUR/USD, the pair failed to stay above 1.1780 and extended losses below the key support at 1.1720.
