Previous Story
USDJPY attempts to prevail within the cloud.
| 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. | ||
 |
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. | ||
 |
USDCHF | H4 |  |
| 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. | ||
 |
USDJPY | H4 | |
| 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. | ||
 |
AUDUSD | H4 | |
| 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). | ||
The post USDJPY attempts to prevail within the cloud. appeared first on FXTM Blog.
