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USDJPY: The bullish climate is still in force.
| EURUSD | H4 | ||
| Resistance | 1.0873 | 1.0899 | 1.0942 |
| Support | 1.0803 | 1.0760 | 1.0734 |
| Primary Scenario | EURUSD is gyrating the daily pivot point at 1.0830. If the pair manages to exceed the hurdle at 1.0873, it will target the resistance level at 1.0899. | ||
| Alternative Scenario | Alternatively, a break back below the daily pivot, would lead the exchange rate down to 1.0803. | ||
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GBPUSD | H4 |  |
| Resistance | 1.4295 | 1.4345 | 1.4381 |
| Support | 1.4209 | 1.4173 | 1.4123 |
| Primary Scenario | The pair is now poised to retest and breach the key support level at 1.4209. If that happens, the next support is seen at 1.4173 and further down to 1.4123. | ||
| Alternative Scenario | On the other hand, a bounce up from current levels will trigger the market to penetrate the daily pivot (1.4259), targeting the resistance at 1.4295. | ||
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USDCHF | H4 | |
| Resistance | 1.0153 | 1.0182 | 1.0196 |
| Support | 1.0110 | 1.0095 | 1.0067 |
| Primary Scenario | USDCHF has experienced strong resistance in the previous session. A fruitless attempt to surpass the daily pivot at 1.0138 will push the pair to find support at 1.0110. | ||
| Alternative Scenario | An upward wave would lift the rate above the daily pivot, with immediate target the resistance at 1.0153. | ||
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USDJPY | H4 | |
| Resistance | 118.28 | 118.85 | 119.26 |
| Support | 117.86 | 117.65 | 117.26 |
| Primary Scenario | The strength of the market faded and USDJPY is following a correction course. However, the bullish climate is still in force and a higher thrust above the barrier at 118.28 will generate strength for the market to hit the resistance level at 118.85. | ||
| Alternative Scenario | Should USDJPY achieve to violate the support at 117.86, the next target is estimated at 117.65. | ||
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AUDUSD | H4 | |
| Resistance | 0.7006 | 0.7059 | 0.7087 |
| Support | 0.6924 | 0.6895 | 0.6842 |
| Primary Scenario | AUDUSD is negotiating below the daily pivot point (0.6977). If the bears manage to take control of the bulls, the currency pair will retest the support at 0.6924 and then lower at 0.6895. Further decline of the market will open the way down to 0.6842. | ||
| Alternative Scenario. | A surge of the exchange rate would fuel the pair towards the daily pivot and further up to 0.7006. | ||
The post USDJPY: The bullish climate is still in force. appeared first on FXTM Blog.
