USDJPY has finished its correction phase.

Posted On 22 Oct 2015

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1365	1.1392	1.1408
Support	1.1322	1.1306	1.1279
Primary Scenario	EURUSD failed to exceed the daily pivot at 1.1349. A decisive movement to the south will push the market below the support at 1.1322, targeting the next level at 1.1306.
Alternative Scenario	A comeback of the exchange rate above the daily pivot will fuel the pair to retest the resistance at 1.1365.

	GBPUSD	H4
Resistance	1.5454	1.5498	1.5520
Support	1.5388	1.5366	1.5322
Primary Scenario	The pair is negotiating slightly below the daily pivot point (1.5432). If the pair manages to violate the support level at 1.5388, it will drop further towards 1.5366.
Alternative Scenario	Alternatively, an upward wave would lead GBPUSD above the daily pivot, paving the way straight to the resistance level at 1.5454.

	USDCHF	H4
Resistance	0.9627	0.9660	0.9710
Support	0.9544	0.9494	0.9460
Primary Scenario	USDCHF is trading near the previous top at 0.9627. A successful attempt to penetrate this level will accelerate the pair to target the forthcoming resistance level at 0.9660.
Alternative Scenario	Should the pair achieve to breach the daily pivot (0.9577), it will find support at 0.9544.

	USDJPY	H4
Resistance	119.92	120.34	120.91
Support	119.60	119.30	118.88
Primary Scenario	The pair has finished its correction phase and it is now poised to retest the hurdle at 119.92. If USDJPY manages to extend its momentum, the next resistance is estimated at 120.34.
Alternative Scenario	On the other hand, a drop of the market below the support level at 119.60 will open the way down to 119.30.

	AUDUSD	H4
Resistance	0.7254	0.7301	0.7328
Support	0.7181	0.7154	0.7107
Primary Scenario	AUDUSD is following a downtrend, after successfully breaching the daily pivot at 0.7228. If the bears manage to take control of the bulls, the barrier at 0.7181 will be eliminated and the next support is seen at 0.7154.
Alternative Scenario.	A higher thrust of the exchange rate will trigger the market above the daily pivot, with immediate target the resistance at 0.7254.

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Source:: USDJPY has finished its correction phase.

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