A tremendous movement led USDJPY into a new bullish outlook.

EURUSD Technical Analysis
Resistance 1.1429 1.1543 1.1602
Support 1.1255 1.1196 1.1081
Primary Scenario EURUSD is revolving around the daily pivot at 1.1370. A desicive movement to the south will push prices to find support at 1.1255 and further down to 1.1196.
Alternative Scenario Alternatively, should the pair manage to exceed the daily pivot, it will target the resistance level at 1.1429.


GBPUSD Technical Analysis GBPUSD H4
Resistance 1.5324 1.5408 1.5465
Support 1.5183 1.5126 1.5042
Primary Scenario The pair edged up at 1.5351, before closing below the daily pivot point at 1.5267. Further drop of the exchange rate will bring GBPUSD into deeper correction towards the support levels at 1.5183 and 1.5126.
Alternative Scenario If the pair manages to penetrate the daily pivot, it will fuel the market further towards the resistance level at 1.5324.


USDCHF Technical Analysis USDCHF H4 Up Trend
Resistance 0.9304 0.9352 0.9417
Support 0.9190 0.9125 0.9077
Primary Scenario USDCHF is gyrating the daily pivot (0.9239). An upward wave would trigger the market to retest the resistance level at 0.9304 and even higher at 0.9352.
Alternative Scenario A plunge of the pair below the daily pivot point will lead the currency rate down to 0.9190.


USDJPY Technical Analysis USDJPY H4 Up Trend
Resistance 119.21 119.88 120.65
Support 118.72 118.20 117.87
Primary Scenario A tremendous movement to the north, led USDJPY into a bullish outlook. If the pair manages to extend its uptrend, it will eye the resistance levels at 119.21 and 119.88.
Alternative Scenario A drop of the market below the support at 118.72, will most likely bring the market into a correction phase towards the forthcoming support at 118.20.


AUDUSD Technical Analysi AUDUSD H4
Resistance 0.7852 0.7911 0.7948
Support 0.7755 0.7718 0.7659
Primary Scenario AUDUSD is now testing the barrier at 0.7755. Any purposeful downward movement will open the way down to the next target at 0.7718 and then lower at 0.7659.
Alternative Scenario If the bears fail to move lower, the next resistance is seen at the daily pivot at 0.7815 and further up at 0.7852.


The post A tremendous movement led USDJPY into a new bullish outlook. appeared first on Forex Circles.

Source:: A tremendous movement led USDJPY into a new bullish outlook.

About the Author
Forex Alchemy is your daily source of cutting edge information, tips, tools, articles, analysis from across the Forex trading industry. If you would like to guest post or contribute regular articles on Forex Alchemy then please contact us here.

Related Posts

Leave a Reply