USDJPY is now testing the lower level of the Kumo.

Posted On 07 Jul 2015

Tag: AUDUSD, EURUSD, GBPUSD, Support & Resistance, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1110	1.1165	1.1235
Support	1.0984	1.0913	1.0858
Primary Scenario	EURUSD is gyrating the daily pivot point at 1.1039. Any purposeful movement to the south will push the market to retest the support level at 1.0984 and even lower at 1.0913.
Alternative Scenario	An upward wave would lead the pair above the daily pivot to hit the hurdle in line at 1.1110.

	GBPUSD	H4
Resistance	1.5643	1.5684	1.5740
Support	1.5545	1.5488	1.5447
Primary Scenario	The pair is hovering slightly above the daily pivot (1.5586). A surge of the market will trigger GBPUSD to target the forthcoming resistance level at 1.5643 and further up to 1.5684.
Alternative Scenario	Alternatively, a comeback of the currency pair will push prices to find support at 1.5545.

	USDCHF	H4
Resistance	0.9460	0.9497	0.9524
Support	0.9396	0.9369	0.9332
Primary Scenario	USDCHF is oscillating around the daily pivot at 0.9433. A bounce up from current levels will fuel the pair to retest the key resistance at 0.9460, with immediate target the level at 0.9497.
Alternative Scenario	Should the pair manage to breach the daily pivot, the market will face the support at 0.9396.

	USDJPY	H4
Resistance	122.85	123.26	123.70
Support	122.39	121.86	121.45
Primary Scenario	The pair is now testing the lower level of the Kumo. A failed attempt to enter within the cloud will push prices to violate the Tenkan-sen line at 122.39, opening the way down to 121.86.
Alternative Scenario	On the other hand, a successful attempt to enter within the cloud will lead the market to climb towards the resistance levels at 122.85 and 123.26.

	AUDUSD	H4
Resistance	0.7532	0.7566	0.7601
Support	0.7462	0.7427	0.7393
Primary Scenario	AUDUSD is moving sideways in the previous session. Any decisive bearish momentum will push the pair to breach the barrier at 0.7462, targeting the forthcoming support level at 0.7427.
Alternative Scenario	A leap of the exchange rate to the north will lift the market above the daily pivot. The next resistance is seen at 0.7532.

The post USDJPY is now testing the lower level of the Kumo. appeared first on Forex Circles.

Source:: USDJPY is now testing the lower level of the Kumo.

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]