​​Technical Analysis Of The Nasdaq 100 As It Rallies While USD/JPY, Brent Crude Give Back Recent Gains.

(MENAFN- DailyFX (IG)) ​Nasdaq 100 probes top of resistance zone

​The Nasdaq 100 is in the process of trying to break out of its key resistance band, the top of which ties in with the 11 February high at 25,382.

​Above Monday's 25,388 high beckon the 8 January low at 25,400 and the late January high at 25,418 ahead of the early January 25,598 peak.

​Support may be found the in the 25,189-to-25,179 region.

​Short-term outlook: bullish, targeting new record highs

​Medium-term outlook: bullish while above the 7 April low at 23,780

Nasdaq 100 daily candlestick chart ​Source: TradingView ​USD/JPY slips

USD/JPY ​ is coming off its ¥159.86 Monday high but remains within a sideways trading range.

​Support may be found around the 9 March high at ¥158.90 and along its February-to-April support line at ¥158.52.

​A rise above ¥159.86 is needed for last week's high at ¥160.03 to be revisited.

​Short-term outlook: neutral outlook while below the 7 April ¥160.03 high but above the 19 March low at ¥157.51

​Medium-term outlook: bullish while above the 19 March low at ¥157.51

​USD/JPY daily candlestick chart ​Source: TradingView ​Brent crude trades back below $100 mark

​The price of Brent crude oil partially closed its 7-to-8 April price gap by rising to $99.74 on Monday before coming off again.

​The 23-to-25 March lows at $93.57-to-$92.62 currently offer support, ahead of the 10 April low at $91.68. If slipped through, the 8 April low at $88.79 may be back on the cards.

​Short-term outlook: bearish while below the 13 April $99.74 high

​Medium-term outlook: neutral while below the 31 March $108.88 high but above the 8 April low at $88.79

​Brent crude daily candlestick chart ​Source: TradingView Important to know

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