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USDJPY: A new bullish outlook is in force.
Posted On 22 Jan 2015
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| EURUSD | H4 | ||
| Resistance | 1.1677 | 1.1746 | 1.1815 |
| Support | 1.1540 | 1.1471 | 1.1403 |
| Primary Scenario | EURUSD has been trapped between the support level at 1.1540 and the resistance level at 1.1677. A decisive movement to the south will push prices to reach the barrier at 1.1540. A breach of this level will open the way down to the support at 1.1471. | ||
| Alternative Scenario | Alternatively, a surge of the market to surpass the daily pivot at 1.1609, will lift the market to retest the hurdle at 1.1677. | ||
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GBPUSD | H4 | |
| Resistance | 1.5186 | 1.5232 | 1.5288 |
| Support | 1.5085 | 1.5030 | 1.4983 |
| Primary Scenario | The pair is oscillating around the daily pivot at 1.5131. Any forceful movement downwards will push prices to find support at 1.5085. The next support is seen at 1.5030. | ||
| Alternative Scenario | Should GBPUSD manage to penetrate the daily pivot, it will eye the resistance level at 1.5186. | ||
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USDCHF | H4 | |
| Resistance | 0.8743 | 0.8893 | 0.9015 |
| Support | 0.8471 | 0.8349 | 0.8199 |
| Primary Scenario | USDCHF is trading narrowly below the daily pivot point at 0.8621. If the pair manages to extend its momentum, it will find support at 0.8471 and further down to 0.8349. | ||
| Alternative Scenario | On the other hand, a higher thrust of the exchange rate above the daily pivot, will fuel the pair further towards the resistance level at 0.8743. | ||
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USDJPY | H4 |  |
| Resistance | 118.39 | 118.87 | 119.47 |
| Support | 117.90 | 117.23 | 116.62 |
| Primary Scenario | The pair has just breach the upper level of the Kumo and a new bullish outlook is in force. If the market keeps going higher, it will penetrate the hurdle at 118.39, targeting the forthcoming resistance at 118.87. | ||
| Alternative Scenario | A drop of the market within the cloud, will lead the currency rate down to 117.90 and even lower at 117.23. | ||
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AUDUSD | H4 | |
| Resistance | 0.8185 | 0.8287 | 0.8340 |
| Support | 0.8029 | 0.7975 | 0.7873 |
| Primary Scenario | Today’s plunge led the pair to approach the support level at 0.8029. A successful attempt to violate this level, it will pave the way down to the support level at 0.7975. | ||
| Alternative Scenario | A reversal back will push the market to reach the daily pivot point at 0.8131. | ||
The post USDJPY: A new bullish outlook is in force. appeared first on Forex Circles.
