USDJPY has experienced strong resistance in the previous session.

Posted On 07 Aug 2015

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.0953	1.0982	1.1022
Support	1.0884	1.0843	1.0814
Primary Scenario	EURUSD finally achieved to exceed the daily pivot point at 1.0913. A sustained trading above this level will accelerate the market to retest the resistance level at 1.0953 and even higher at 1.0982.
Alternative Scenario	Should the pair manage to break below the daily pivot, it will find support at 1.0884.

	GBPUSD	H4
Resistance	1.5609	1.5707	1.5778
Support	1.5440	1.5369	1.5271
Primary Scenario	A strong bearish movement led GBPUSD to violate the critical support level at 1.5538 (daily pivot). A persistent trading below this level will most likely open the way down to 1.5440 and then lower at 1.5369.
Alternative Scenario	On the other hand, an upward wave would lift the exchange rate above the daily pivot, with immediate target the resistance level at 1.5609.

	USDCHF	H4
Resistance	0.9846	0.9886	0.9926
Support	0.9766	0.9726	0.9687
Primary Scenario	USDCHF is negotiating on the daily pivot point (0.9806). If the pair manages to withstand the sellers’ pressure, it will climb towards the resistance levels at 0.9846 and 0.9886.
Alternative Scenario	A reversal back below the daily pivot will lead the currency pair to hit the support level at 0.9766.

	USDJPY	H4
Resistance	125.00	125.49	125.86
Support	124.70	124.27	123.94
Primary Scenario	The USDJPY pair has experienced strong resistance in the previous session. A decisive movement to the north will eliminate the hurdle in line at 125.00, targeting the forthcoming resistance at 125.49.
Alternative Scenario	A plunge of the market below the support level at 124.70 will lead the currency pair underway towards the support level at 124.27.

	AUDUSD	H4
Resistance	0.7384	0.7425	0.7460
Support	0.7308	0.7273	0.7232
Primary Scenario	AUDUSD is oscillating around the daily pivot point at 0.7349. If the pair manages to surpass the resistance at 0.7384, the next target is seen at 0.7425.
Alternative Scenario	Alternatively, a comeback of the pair below the daily pivot will push prices to find support at 0.7308.

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Source:: USDJPY has experienced strong resistance in the previous session.

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