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USDJPY is negotiating within the Kumo.
| EURUSD | H4 | ||
| Resistance | 1.0730 | 1.0806 | 1.0906 |
| Support | 1.0554 | 1.0454 | 1.0378 |
| Primary Scenario | EURUSD has experienced strong resistance, before closing below the daily pivot (1.0630). The pair will attempt to retest the key support at 1.0554 and a successful breach of this level will most likely pave the way down to 1.0454. | ||
| Alternative Scenario | An upward wave would lift the market above the daily pivot point, towards the resistance level at 1.0730. | ||
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GBPUSD | H4 |  |
| Resistance | 1.4852 | 1.4926 | 1.5051 |
| Support | 1.4654 | 1.4529 | 1.4456 |
| Primary Scenario | The pair recovered from the previous low, after surpassing the daily pivot at 1.4727. If bulls manage to take control of the bears, the next resistance is seen at 1.4852 and even higher at 1.4926. | ||
| Alternative Scenario | A plunge of GBPUSD below the daily pivot will push prices to find support at 1.4654. | ||
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USDCHF | H4 | |
| Resistance | 0.9784 | 0.9850 | 0.9906 |
| Support | 0.9663 | 0.9606 | 0.9541 |
| Primary Scenario | USDCHF seems that end its correction course and is now poised to retest the hurdle at 0.9784. If the pair manages to withstand the sellers’ pressure, it will climb towards the next resistance level at 0.9850. | ||
| Alternative Scenario | Alternatively, a fruitless attempt to move higher will lead the pair to violate the daily pivot (0.9728), sliding down to the support level at 0.9663. | ||
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USDJPY | H4 | |
| Resistance | 119.81 | 120.22 | 120.84 |
| Support | 119.56 | 119.06 | 118.71 |
| Primary Scenario | USDJPY is negotiating within the Kumo. Any decisive movement to the south will trigger the market to eliminate the lower level of the cloud (119.56), targeting the support levels at 119.06 and further down to 118.71. | ||
| Alternative Scenario | On the other hand, any upside momentum to exceed the upper level of the cloud (119.81) will lead the pair to exit the cloud, with bullish sentiment towards the resistance level at 120.22. | ||
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AUDUSD | H4 | |
| Resistance | 0.7662 | 0.7702 | 0.7756 |
| Support | 0.7569 | 0.7515 | 0.7475 |
| Primary Scenario | The pair is pivoting around the daily pivot at 0.7608. A tumble of AUDUSD below the critical support at 0.7569 will push the exchange rate into fresh lows down to 0.7515 and even lower at 0.7475. | ||
| Alternative Scenario | Should the pair achieve to penetrate the daily pivot, it will target the resistance level at 0.7662. | ||
The post USDJPY is negotiating within the Kumo. appeared first on Forex Circles.
