Japanese Yen (JPY)

• JPY strengthened against the USD for the fourth consecutive day.
• Japan’s GDP narrowly avoided a recession in Q4 2023, growing 0.1%.
• Domestic demand in Japan remains weak.

British Pound (GBP)

• GBP weakened against the USD.
• The UK employment report is expected on Tuesday. The unemployment rate is expected to remain steady at 3.8% in Q1 2024.
• Wage growth is expected to decline.
• The Bank of England (BoE) will be closely monitoring the employment data.

Oil (USCrude)

• The short-term trend for oil is up.
• Traders may consider buying at support levels (A) 77.01 – 76.68 or (B) 75.36 – 74.87.

Gold (XAUUSD)

• The short-term uptrend for gold continued.
• Traders may consider buying at support levels (A) 2151 – 2146 or (B) 2129 – 2122.

Euro (EURUSD)

• The euro continues to trade in a short-term uptrend.
• If the resistance at 1.0972 – 1.0946 holds, the price will go into a downward correction.
• Traders may consider buying at support levels (A) 1.0897 – 1.0888 or (B) 1.0855 – 1.0842.

Bitcoin (BTCUSD)

• Bitcoin is expected to rise in subwave 5 of impulse wave (3) to 72,900.00.
• Buy: 68,463.90, Take profit: 72,900.00

Ripple (XRPUSD)

• XRP is expected to grow in subwave (3) to the high of 0.663 marked by wave (1).
• Buy: 0.605, Take profit: 0.663

Ethereum (ETHUSD)

• Ethereum is expected to rise to 4183.00.
• Buy: 3855.79, Take profit: 4183.00

Important Events

• Bank of Japan meeting: March 18-19
• UK employment report: Tuesday
• Federal Reserve meeting: March 21