USDJPY is searching for direction.

Posted On 03 Apr 2015

Tag: AUDUSD, Daily Pivot Point, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.0938	1.0997	1.1092
Support	1.0785	1.0690	1.0631
Primary Scenario	EURUSD has finally managed to surpass the daily pivot (1.0844). Further increase of the exchange rate will lead the pair to retest the hurdle at 1.0938 and then higher at 1.0997.
Alternative Scenario	A drop of the market below the daily pivot point will open the way down to 1.0785.

	GBPUSD	H4
Resistance	1.4870	1.4913	1.4959
Support	1.4780	1.4734	1.4690
Primary Scenario	The pair is revolving around the daily pivot at 1.4823. A decisive thrust of the barrier at 1.4870 will most likely lift GBPUSD towards the forthcoming resistance at 1.4913.
Alternative Scenario	Alternatively, if the currency pair achieve to violate the daily pivot, it will find support at 1.4780.

	USDCHF	H4
Resistance	0.9657	0.9721	0.9768
Support	0.9545	0.9498	0.9434
Primary Scenario	USDCHF is now trading below the daily pivot at 0.9609. A downward momentum will push prices lower towards the support levels at 0.9545 and 0.9498.
Alternative Scenario	A leap of the market above the daily pivot will fuel the pair to retest the resistance level at 0.9657.

	USDJPY	H4
Resistance	119.91	120.39	120.95
Support	119.40	119.02	118.32
Primary Scenario	The pair is searching for direction inside the Kumo. A fruitful attempt to penetrate the upper level of the cloud (119.91) will trigger USDJPY to target the next resistance at 120.39.
Alternative Scenario	A plunge of the currency pair will push the pair lower towards 119.40 and further down to 119.02.

	AUDUSD	H4
Resistance	0.7623	0.7654	0.7699
Support	0.7545	0.7500	0.7468
Primary Scenario	AUDUSD bounced up from the previous bottom and it is now heading towards the hurdle at 0.7623. The next resistance is seen at 0.7654.
Alternative Scenario	A tumble of the pair will push the marker below the daily pivot (0.7577) and then lower at 0.7545.

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