USDJPY: Correction course.

EURUSD Technical Analysis
Resistance 1.2355 1.2397 1.2451
Support 1.2260 1.2205 1.2164
Primary Scenario EURUSD is now heading towards the resistance level at 1.2355. A successful breach of this level, will imply further increase of the currency rate up to the next target at 1.2397.
Alternative Scenario A comeback of the market will lead the pair to find support at the daily pivot (1.2301) and even lower at 1.2260.


GBPUSD Technical Analysis GBPUSD H4
Resistance 1.5705 1.5760 1.5843
Support 1.5568 1.5485 1.5430
Primary Scenario The pair bounced up from the previous bottom and achieved to surpass the daily pivot at 1.5623. If the pair manages to withhold the sellers’ pressure, it will climb towards the resistance levels at 1.5705 and 1.5760.
Alternative Scenario A plunge of GBPUSD will push prices to breach the daily pivot point and then lower at 1.5568.


USDCHF Technical Analysis USDCHF H4 Down Trend
Resistance 0.9805 0.9851 0.9884
Support 0.9726 0.9692 0.9646
Primary Scenario USDCHF intends to retest the support level at 0.9726. Further drop of the market, will open the way down to the forthcoming support at 0.9692.
Alternative Scenario An upward wave, would be a catalyst for the exchange rate to penetrate the daily pivot at 0.9771 and to approach the resistance level at 0.9805.


USDJPY Technical Analysis USDJPY H4
Resistance 120.49 120.92 121.84
Support 119.67 119.12 118.36
Primary Scenario USDJPY is trading within a correction course. If the bulls manage to withstand the bears pressure, it will end this course with immediate target the resistance level at 120.49. The next resistance is estimated at 120.92.
Alternative Scenario Should the pair manage to breach the support at 119.67, it will drop further down to 119.12.


AUDUSD Technical Analysi AUDUSD H4 Down Trend
Resistance 0.8323 0.8354 0.8386
Support 0.8259 0.8227 0.8196
Primary Scenario The pair tested the support level at 0.8227. A successful violation of this barrier, will push prices lower down to 0.8196.
Alternative Scenario A higher thrust of AUDUSD, will fuel the market to target the resistance level at 0.8259 and further up the daily pivot at 0.8291. RSI oscillator is trading within an oversold territory.


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Source:: USDJPY: Correction course.

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