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USDJPY has just surpassed the upper level of the cloud.
| EURUSD | H4 | ||
| Resistance | 1.1323 | 1.1371 | 1.1415 |
| Support | 1.1231 | 1.1186 | 1.1138 |
| Primary Scenario | EURUSD is trading slightly above the daily pivot point (1.1278). A bounce up from current levels will most likely lift the currency pair to retest the barrier at 1.1323. Further increase of the exchange rate ould lead the market towards the next resistance at 1.1371. | ||
| Alternative Scenario | A comeback of the market below the daily pivot will push prices to hit the support level at 1.1231. | ||
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GBPUSD | H4 | |
| Resistance | 1.5390 | 1.5436 | 1.5501 |
| Support | 1.5279 | 1.5214 | 1.5168 |
| Primary Scenario | The pair is heading towards the resistance level at 1.5390. A successful attempt to exceed this level will trigger the market to reach the next target in line at 1.5436 and even higher at 1.5501. | ||
| Alternative Scenario | Alternatively, a reversal back below the daily pivot at 1.5325 will bring GBPUSD into a correction course targeting the support level at 1.5279. RSI supports this scenario. | ||
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USDCHF | H4 |  |
| Resistance | 0.9722 | 0.9786 | 0.9836 |
| Support | 0.9609 | 0.9559 | 0.9495 |
| Primary Scenario | USDCHF is negotiating below the daily pivot point at 0.9672. If the bears manage to take control of the bulls, the next support is seen at 0.9609 and then lower at 0.9559. | ||
| Alternative Scenario | A higher thrust of the pair will fuel the market to penetrate the daily pivot, with immediate target the resistance at 0.9722. | ||
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USDJPY | H4 | |
| Resistance | 120.08 | 120.33 | 120.72 |
| Support | 119.95 | 119.70 | 119.53 |
| Primary Scenario | The USDJPY pair has just surpassed the upper level of the cloud (119.95). If the pair manages to withhold the sellers’ pressure, it will climb towards the resistance levels at 120.08 and 120.33. | ||
| Alternative Scenario | On the other hand, a plunge of the market below the support at 119.95 will push the pair to find support at 119.70. | ||
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AUDUSD | H4 | |
| Resistance | 0.7297 | 0.7337 | 0.7404 |
| Support | 0.7191 | 0.7124 | 0.7084 |
| Primary Scenario | AUDUSD is still rising, heading the key resistance at 0.7297. If the pair achieves to extend its uptrend, the market will eliminate this level, opening the way higher towards the resistance levels at 0.7337 and 0.7404. | ||
| Alternative Scenario. | Any correction of the pair will push prices to find support at the daily pivot (0.7230) and further down to 0.7191. RSI is trading within the oversold zone. | ||
The post USDJPY has just surpassed the upper level of the cloud. appeared first on Forex Circles.
Source:: USDJPY has just surpassed the upper level of the cloud.
