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USDJPY: A new bearish sentiment.
| EURUSD | H4 | ||
| Resistance | 1.1214 | 1.1306 | 1.1370 |
| Support | 1.1058 | 1.0994 | 1.0902 |
| Primary Scenario | A strong bearish movement led EURUSD below the daily pivot point (1.1150). A persistent trading below this key level will push the pair to hit the support level at 1.1058 and further down to 1.0994. | ||
| Alternative Scenario | A successful attempt to exceed the daily pivot will lift the exchange rate towards the resistance level at 1.1214. | ||
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GBPUSD | H4 | |
| Resistance | 1.5305 | 1.5356 | 1.5400 |
| Support | 1.5210 | 1.5167 | 1.5116 |
| Primary Scenario | GBPUSD is following a downtrend. Should the pair achieve to violate the support level at 1.5210, it will find support at 1.5167. | ||
| Alternative Scenario | On the other hand, a higher thrust of the market would trigger the market to surpass the daily pivot (1.5261). The next resistance is seen at 1.5305. | ||
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USDCHF | H4 | |
| Resistance | 0.9774 | 0.9816 | 0.9862 |
| Support | 0.9685 | 0.9639 | 0.9597 |
| Primary Scenario | USDCHF topped up at 0.9774, before closing below the daily pivot point at 0.9727. A deeper correction of the currency pair will push prices down to 0.9685 and then lower to 0.9639. | ||
| Alternative Scenario | Alternatively, a surge of the market above the daily pivot will lead the pair to retest the hurdle at 0.9774. | ||
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USDJPY | H4 | |
| Resistance | 119.78 | 120.31 | 120.69 |
| Support | 119.08 | 118.45 | 117.62 |
| Primary Scenario | After the negotiation of the pair within the cloud, USDJPY managed to exit the Kumo with a new bearish sentiment. Further drop of the market will push the pair to breach the support at 119.08, with immediate target the level at 118.45. | ||
| Alternative Scenario | An upward wave will fuel the pair to reach the resistance level at 119.78. | ||
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AUDUSD | H4 | |
| Resistance | 0.7054 | 0.7093 | 0.7125 |
| Support | 0.6984 | 0.6952 | 0.6913 |
| Primary Scenario | AUDUSD is now heading to retest the critical support level at 0.6952. A decisive movement to the south will push prices deeper towards the next target at 0.6913. | ||
| Alternative Scenario. | Alternatively, a reversal back above the resistance at 0.6984 will lead the market towards the daily pivot point at 0.7023. RSI supports this outlook. | ||
The post USDJPY: A new bearish sentiment. appeared first on Forex Circles.
Source:: USDJPY: A new bearish sentiment.
