USDJPY has returned back below the cloud.

Posted On 02 Oct 2015

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1223	1.1253	1.1297
Support	1.1149	1.1104	1.1075
Primary Scenario	EURUSD is gyrating the daily pivot point (1.1178). A decisive movement to the south will most likely push prices to find support at 1.1149 and then lower at 1.1104.
Alternative Scenario	A surge of the market above the daily pivot would lift the exchange rate towards the resistance at 1.1223.

	GBPUSD	H4
Resistance	1.5170	1.5211	1.5243
Support	1.5097	1.5065	1.5024
Primary Scenario	The pair is oscillating around the daily pivot point at 1.5138. A bounce up from current levels will trigger GBPUSD to target the resistance level at 1.5170 and further up to 1.5211.
Alternative Scenario	Should the pair manage to break the daily pivot, the next support is seen at 1.5097.

	USDCHF	H4
Resistance	0.9797	0.9826	0.9864
Support	0.9731	0.9692	0.9664
Primary Scenario	USDCHF is trading above the daily pivot at 0.9759. If the pair manages to withhold the sellers’ pressure, the rate will penetrate the hurdle at 0.9797, with immediate target the next resistance level at 0.9826.
Alternative Scenario	A plunge of the market below the daily pivot will open the way down to 0.9731.

	USDJPY	H4
Resistance	120.13	120.43	120.91
Support	119.86	119.64	119.23
Primary Scenario	The USDJPY pair has returned back below the cloud. Any forceful attempt to violate the barrier at 119.86 will push prices lower towards the support levels at 119.64 and 119.23.
Alternative Scenario	On the other hand, a successful attempt to exceed the lower level of the Kumo (120.13) will lead the pair towards the resistance at 120.43.

	AUDUSD	H4
Resistance	0.7074	0.7122	0.7161
Support	0.6988	0.6949	0.6901
Primary Scenario	AUDUSD is now testing the daily pivot point at 0.7036. A failed attempt to surpass this level will pave the path down to 0.6988 and even lower to 0.6949.
Alternative Scenario.	Alternatively, a successful attempt to penetrate the daily pivot will push the market to hit the resistance level at 0.7074.

The post USDJPY has returned back below the cloud. appeared first on Forex Circles.

Source:: USDJPY has returned back below the cloud.

About the Author

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC. Our mission is to maximize the value our clients derive from their most precious commodity, "Time"! By offering advanced and innovative services, optimal customer care and perpetual devotion to our clients, we will ensure that their individual needs are always met as markets continue to evolve over time. Visit ForexTime to learn more www.forextime.com [space height="20"] [social type="facebook"]https://www.facebook.com/ForexTime[/social] [social type="twitter"]https://twitter.com/ItsForexTime[/social] [social type="google-plus"]https://plus.google.com/u/0/+ForextimeFXTM/posts[/social] [social type="youtube"]https://www.youtube.com/user/ItsForexTime[/social]