USDJPY: The bearish sentiment is still in force.

Posted On 05 May 2016

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1521	1.1556	1.1584
Support	1.1457	1.1430	1.1394
Primary Scenario	EURUSD is trading slightly below the daily pivot point at 1.1493. A decisive movement to the south will lead the market down to 1.1457 and then lower at 1.1430.
Alternative Scenario	A surge of the exchange rate above the daily pivot will lift the market to retest the resistance at 1.1521.

	GBPUSD	H4
Resistance	1.4555	1.4618	1.4665
Support	1.4444	1.4397	1.4334
Primary Scenario	The pair has just surpassed the daily pivot (1.4507). If GBPUSD achieves to extend its momentum, the next resistance is seen at 1.4555 and further up to 1.4618.
Alternative Scenario	Alternatively, a reversal back below the daily pivot will pave the path down to 1.4444.

	USDCHF	H4
Resistance	0.9598	0.9622	0.9656
Support	0.9541	0.9507	0.9483
Primary Scenario	USDCHF is heading towards the hurdle in line at 0.9598. Further bullish momentum of the exchange rate will trigger the market to exceed the said level, with immediate target the forthcoming resistance at 0.9622.
Alternative Scenario	A comeback of the market below the daily pivot will push prices to find support at 0.9541.

	USDJPY	H4
Resistance	107.44	108.19	108.72
Support	106.84	106.11	105.53
Primary Scenario	The bearish sentiment is still in force. A successful violation of the support level at 106.84 will open the way down to 106.11.
Alternative Scenario	On the other hand, an upward wave would fuel the pair to hit the barrier at 107.44 and even higher at 108.19.

	AUDUSD	H4
Resistance	0.7497	0.7542	0.7567
Support	0.7426	0.7401	0.7356
Primary Scenario	AUDUSD cleared the daily pivot point (0.7471) and the resistance level at 0.7497. If the pair manages to withhold the sellers’ pressure, the next target is estimated at 0.7542 and further up to 0.7567.
Alternative Scenario	A plunge of the pair below the support at 0.7497 will pave the path down to the daily pivot.

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