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USDJPY: Correction course.
Posted On 09 Dec 2014
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| EURUSD | H4 | ||
| 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. | ||
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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. | ||
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USDCHF | H4 |  |
| 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. | ||
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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. | ||
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AUDUSD | H4 | |
| 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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