December Technical Outlook: Micron Technology Surges, Precious Metals and Forex Markets Experience Increased Volatility

Micron Technology (MU.US) Leads Gains, Strong Recovery Signals Emerge

Micron Technology recently reported impressive earnings, not only surpassing analyst expectations for the last quarter but also raising its capital expenditure target for fiscal year 2026 from $18 billion to $20 billion, sending a strong optimistic signal about the memory chip demand outlook. The stock price also responded positively, reaching a high of $263.65, with a single-day increase of over 10%, demonstrating a clear upward trend.

From a technical perspective, Micron Technology is currently in a clear ascending channel, with recent breakout from a consolidation pattern indicating further upside potential. As long as it stays above the 245.0 level, it may challenge the 280 and even 300 levels in the future. Conversely, if it falls below the 220.0 support, there is a risk of trend reversal.

Technical reference levels: Support at 245, 220, 200; Resistance at 264, 280, 300

USD/JPY: Range Rebound, 155 Key Level

The recent trend of USD/JPY shows a consolidation pattern, with a 0.38% increase last week, reaching a high of 156.44, the highest in over a week. Notably, 155.0 is both an important support level and marks the technical level of the high on May 13, indicating a temporary easing of the short-term downtrend.

Overall, USD/JPY is expected to remain within the 155-157 range with repeated consolidation. If it stays above 155.0, the upside target could be 156.20 or even 158.0. However, if it breaks below 154.50, downside risks point toward 152.0 and 150.0 regions.

Technical reference levels: Support at 155.0, 152.0, 150.0; Resistance at 156.20, 158.0, 160.0

EUR/USD: Bull-Bear Boundary Triggers Downward Warning

EUR/USD has recently been oscillating around 1.1700, but has fallen for three consecutive days, with clear market divergence between bulls and bears. The 1.1700 level is crucial for both sides, and the AO indicator currently shows increasing downward momentum, issuing a clear risk warning.

If it breaks below 1.1700 effectively, the next downside targets are 1.1630 and even 1.1500. However, if it can hold above 1.1700, and stay above 1.1630, the medium-term outlook remains bullish with a target around 1.2.

Technical reference levels: Support at 1.1700, 1.1630, 1.1500; Resistance at 1.1800, 1.1900, 1.2000

Gold: Key Breakthrough Imminent, 4350 Level as Resistance

Gold is currently trading above $4300, with the latest candlestick forming a doji, indicating potential trend reversal signals. The 4350 level is the most critical resistance at the moment, and whether it can break through will determine the subsequent trend.

In an optimistic breakout scenario, gold could rebound further to challenge the previous high of 4381 or even reach the psychological barrier of 4400. However, if the rebound is blocked at 4350, it risks falling back to test support at 4220.

Technical reference levels: Support at 4300, 4220, 4160; Resistance at 4380, 4400, 4500

Market Background: Fundamentals Support Risk Rebound

US November CPI data unexpectedly declined, laying the foundation for further rate cut expectations by the Federal Reserve; at the same time, the Bank of Japan’s rate hike policy has been officially implemented. With these dual factors, the overall market risk appetite is expected to recover, providing a macroeconomic backdrop supportive of the bullish outlook for the above assets.