USDJPY is heading to the support level at 116.99.

EURUSD Technical Analysis
Resistance 1.1836 1.1900 1.1942
Support 1.1730 1.1688 1.1624
Primary Scenario EURUSD has reached a fresh low yesterday (1.1753). A decisive movement downwards will open the way down to the forthcoming support at 1.1730 and even lower at 1.1688.
Alternative Scenario Alternatively, a surge of the pair above the daily pivot (1.1794) will lift the market towards the hurdle at 1.1836.


GBPUSD Technical Analysis GBPUSD H4 Up Trend
Resistance 1.5206 1.5255 1.5320
Support 1.5092 1.5028 1.4978
Primary Scenario The pair is ranging slightly above the daily pivot at 1.5141. A successful attempt to penetrate the barrier at 1.5206, will trigger GBPUSD to target the next resistance level at 1.5255.
Alternative Scenario A plunge of the market below the daily pivot point will push prices to find support at 1.5092.


USDCHF Technical Analysis USDCHF H4 Up Trend
Resistance 1.0236 1.0272 1.0327
Support 1.0145 1.0089 1.0053
Primary Scenario USDCHF is now testing the daily pivot at 1.0180. A bounce up from current levels will generate strength for the currency pair to hit the resistance level at 1.0236 and further up at 1.0272.
Alternative Scenario Should the pair manage to breach the daily pivot, it will eye the support level at 1.0145.


USDJPY Technical Analysis USDJPY H4
Resistance 117.48 117.93 118.48
Support 116.99 116.42 115.57
Primary Scenario The pair is heading to the support level at 116.99. A drop of the exchange rate below this level, will lead USDJPY underway towards the support at 116.42 and then lower at 115.57.
Alternative Scenario An upward wave would bring the market into a correction phase, targeting the resistance levels at 117.48 and 117.93.


AUDUSD Technical Analysi AUDUSD H4
Resistance 0.8198 0.8233 0.8269
Support 0.8128 0.8092 0.8058
Primary Scenario A strong movement to the south led the pair to test the support level at 0.8092. Further drop of AUDUSD will push prices to reach the next target at 0.8058.
Alternative Scenario On the other hand, a higher thrust of the market will fuel the pair to reach the resistance level at 0.8128.


The post USDJPY is heading to the support level at 116.99. appeared first on Forex Circles.

Source:: USDJPY is heading to the support level at 116.99.

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