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USDJPY is heading to the support level at 116.99.
Posted On 14 Jan 2015
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| EURUSD | H4 | ||
| 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. | ||
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GBPUSD | H4 |  |
| 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. | ||
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USDCHF | H4 | |
| 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. | ||
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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. | ||
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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.
