USDJPY attempts to prevail within the cloud.

EURUSD Technical Analysis
EURUSD H4
Resistance 1.1146 1.1186 1.1224
Support 1.1067 1.1029 1.0989
Primary Scenario After reaching the support level at 1.1067, EURUSD has surpassed the daily pivot at 1.4408. Further correction of the market will fuel the pair to exceed the hurdle at 1.1146, with immediate target the resistance at 1.1186.
Alternative Scenario A tumble of the exchange rate would push the pair below the daily pivot, targeting the support level at 1.1067.

EURUSDH4

GBPUSD Technical Analysis GBPUSD H4
Resistance 1.4399 1.4465 1.4537
Support 1.4261 1.4189 1.4123
Primary Scenario The pair is oscillating around the daily pivot point (1.4327). A bounce up from current levels would lift GBPUSD towards 1.4399 and further up to 1.4465.
Alternative Scenario Alternatively, should the pair achieve to violate the daily pivot, it will find support at 1.4261.

GBPUSDH4

USDCHF Technical Analysis USDCHF H4 Down Trend
Resistance 0.9961 0.9996 1.0025
Support 0.9897 0.9868 0.9833
Primary Scenario USDCHF edged up at 0.9961, before retracing below the daily pivot at 0.9932. A deeper correction of the currency pair will lead the market to eliminate the support at 0.9897, opening the way down to 0.9868.
Alternative Scenario An upward wave above the daily pivot will trigger the market to retest the hurdle at 0.9961.

USDCHFH4

USDJPY Technical Analysis USDJPY H4 Down Trend
Resistance 113.38 113.93 114.49
Support 112.69 112.06 111.56
Primary Scenario The USDJPY pair is testing the lower level of the Kumo. A failed attempt to prevail within the cloud will most likely push the market down to 112.69 and even lower at 112.06.
Alternative Scenario On the other hand, a successful attempt to penetrate the hurdle at 113.38 will accelerate the pair to hit the next target at 113.93.

USDJPYH4

AUDUSD Technical Analysi AUDUSD H4 Down Trend
Resistance 0.7182 0.7208 0.7233
Support 0.7131 0.7106 0.7080
Primary Scenario A strong bearish movement led AUDUSD to breach the daily pivot and the support level at 0.7131. If the pair manages to extend its momentum, it will clear the support at 0.7106, targeting the next level at 0.7080.
Alternative Scenario If the pair achieves to surpass the hurdle at 0.7131, the next resistance is seen at 0.7157 (daily pivot point).

AUDUSDH4

The post USDJPY attempts to prevail within the cloud. appeared first on FXTM Blog.

Source:: USDJPY attempts to prevail within the cloud.

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