USDJPY: A new bearish outlook is now in force.

EURUSD Technical Analysis
EURUSD H4
Resistance 1.2475 1.2504 1.2561
Support 1.2389 1.2332 1.2303
Primary Scenario The pair edged up at 1.2504, before returning back near to the daily pivot point at 1.2418. If EURUSD manages to gain momentum, it will attempt to retest the hurdle at 1.2475 and then higher the resistance level at 1.2504.
Alternative Scenario Further correction of the market, will push prices below the daily pivot and even lower at 1.2389.

EURUSDH4

GBPUSD Technical Analysis GBPUSD H4
Resistance 1.5739 1.5764 1.5811
Support 1.5667 1.5621 1.5595
Primary Scenario GBPUSD is now trading above the daily pivot zone (1.5693). A decisive movement upwards, will fuel the pair to retest the barrier at 1.5739 and moreover higher at 1.5764.
Alternative Scenario Should the pair achieve to breach the daily pivot, it will find support at 1.5667.

GBPUSDH4

USDCHF Technical Analysis USDCHF H4 Down Trend
Resistance 0.9702 0.9742 0.9762
Support 0.9642 0.9622 0.9583
Primary Scenario The pair retraced from the previous bottom at 0.9622. A failed attempt to penetrate the daily pivot at 0.9682, it will generate strength for the bears to retest the support levels at 0.9642 and 0.9622.
Alternative Scenario A successful attempt to exceed the daily pivot, will target the resistance level at 0.9702.

USDCHFH4

USDJPY Technical Analysis USDJPY H4 Down Trend
Resistance 118.33 118.72 119.40
Support 117.84 117.42 117.06
Primary Scenario USDJPY is now testing the hurdle at 118.33. A fruitless attempt to surpass this level, will push prices lower down to the support level at 117.84 and further lower at 117.42.
Alternative Scenario If the pair achieves to penetrate the resistance at 118.33, it will climb towards the next level at 118.72.

USDJPYH4

AUDUSD Technical Analysi AUDUSD H4
Resistance 0.8354 0.8392 0.8438
Support 0.8271 0.8225 0.8187
Primary Scenario The pair has been trapped between the daily pivot at 0.8309 and the resistance level at 0.8354. Any purposeful movement to the north, will trigger the market to breach the barrier at 0.8354. The next resistance is seen at 0.8392.
Alternative Scenario A reversal back of the market, will lead the exchange rate below the daily pivot and even lower at 0.8271.

AUDUSDH4

The post USDJPY: A new bearish outlook is now in force. appeared first on Forex Circles.

Source:: USDJPY: A new bearish outlook is now in force.

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