USDJPY is negotiating within the cloud.

EURUSD Technical Analysis
Resistance 1.1464 1.1518 1.1589
Support 1.1338 1.1267 1.1213
Primary Scenario EURUSD is revolving above the daily pivot point at 1.1392. A persistent trading above this level will lead the market to retest the hurdle at 1.1464. A successful penetration of this level will most likely lift the pair higher, towards the resistance level at 1.1518.
Alternative Scenario A comeback of the market below the daily pivot will push prices to find support at 1.1338.


GBPUSD Technical Analysis GBPUSD H4
Resistance 1.5397 1.5442 1.5483
Support 1.5310 1.5270 1.5224
Primary Scenario The pair is trading on the daily pivot (1.5356). A bounce up from current levels will trigger the market to target the resistance levels at 1.5397 and then higher at 1.5442.
Alternative Scenario On the other hand, a plunge of the exchange rate to the south will open the way down to the support level at 1.5310.


USDCHF Technical Analysis USDCHF H4
Resistance 0.9396 0.9427 0.9479
Support 0.9312 0.9259 0.9229
Primary Scenario USDCHF is following an uptrend. If the pair manages to extend its momentum, it will target the forthcoming resistance at 0.9396 and further up at 0.9427.
Alternative Scenario A setback of the prices will push the market below the daily pivot, with immediate target the support level at 0.9312.


USDJPY Technical Analysis USDJPY H4
Resistance 119.40 119.87 120.46
Support 118.82 118.67 118.22
Primary Scenario The pair is negotiating within the cloud. If USDJPY manages to withstand the sellers’ pressure, it will climb towards the resistance levels at 119.40 and 119.87.
Alternative Scenario A drop of the market below the support at 118.82, will push the rate lower down to 118.67.


AUDUSD Technical Analysi AUDUSD H4
Resistance 0.7848 0.7881 0.7934
Support 0.7762 0.7709 0.7676
Primary Scenario AUDUSD is heading towards the resistance level at 0.7848. Should the pair achieve to exceed this level, the next resistance is seen at 0.7881.
Alternative Scenario Alternatively, a reversal back of the market will lead the pair to find support at the daily pivot (0.7795).


The post USDJPY is negotiating within the cloud. appeared first on Forex Circles.

Source:: USDJPY is negotiating within the cloud.

About the Author
Forex Alchemy is your daily source of cutting edge information, tips, tools, articles, analysis from across the Forex trading industry. If you would like to guest post or contribute regular articles on Forex Alchemy then please contact us here.

Leave a Reply