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USDJPY finally managed to exit the Kumo.
Posted On 09 Jan 2015
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| EURUSD | H4 | ||
| Resistance | 1.1841 | 1.1890 | 1.1934 |
| Support | 1.1747 | 1.1704 | 1.1654 |
| Primary Scenario | EURUSD is gyrating the daily pivot at 1.1797. If the pair manages to extend its correction, it will target the resistance level at 1.1841 and then higher at 1.1890. | ||
| Alternative Scenario | A break below the daily pivot will push prices to find support at 1.1747. | ||
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GBPUSD | H4 | |
| Resistance | 1.5125 | 1.5162 | 1.5208 |
| Support | 1.5042 | 1.4996 | 1.4958 |
| Primary Scenario | The pair is trading narrowly above the daily pivot (1.5079). A decisive movement to the north will trigger GBPUSD to hit the hurdle at 1.5125. The next resistance is seen at 1.5162. | ||
| Alternative Scenario | A comeback of the market, will lead the pair below the daily pivot, to retest the support level at 1.5042. | ||
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USDCHF | H4 |  |
| Resistance | 1.0219 | 1.0257 | 1.0299 |
| Support | 1.0139 | 1.0097 | 1.0059 |
| Primary Scenario | USDCHF edged up at 1.0219, before retracing below the daily pivot at 1.0177. Further correction of the currency pair will push the rate down to 1.0139 and even lower at 1.0097. | ||
| Alternative Scenario | An upward wave will lead the market to penetrate the daily pivot and to target the resistance at 1.0219. | ||
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USDJPY | H4 | |
| Resistance | 119.63 | 119.90 | 120.74 |
| Support | 119.16 | 118.70 | 118.05 |
| Primary Scenario | The pair finally managed to exit the Kumo. Any forceful movement to the south to breach the support at 119.16, will open the way down to 118.70. | ||
| Alternative Scenario | Should USDJPY achieve to surpass the resistance level at 119.63, the next resistance is seen at 119.90. | ||
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AUDUSD | H4 | |
| Resistance | 0.8144 | 0.8167 | 0.8204 |
| Support | 0.8083 | 0.8046 | 0.8023 |
| Primary Scenario | AUDUSD is now testing the hurdle at 0.8144. A successful penetration of this level, will fuel the pair further towards the resistance level at 0.8167. | ||
| Alternative Scenario | A plunge of the market will push the pair to reach the daily pivot point at 0.8106. | ||
The post USDJPY finally managed to exit the Kumo. appeared first on Forex Circles.
