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USDJPY is trading within the Kumo.
| EURUSD | H4 | ||
| Resistance | 1.1153 | 1.1219 | 1.1312 |
| Support | 1.0994 | 1.0901 | 1.0835 |
| Primary Scenario | EURUSD surged above the daily pivot point at 1.1060. A persistent movement upwards will trigger the market to surpass the hurdle at 1.1153, with immediate target the forthcoming resistance at 1.1219. | ||
| Alternative Scenario | A comeback of the currency pair will breach the daily pivot, heading down to the support level at 1.0994. | ||
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GBPUSD | H4 | |
| Resistance | 1.5604 | 1.5652 | 1.5709 |
| Support | 1.5500 | 1.5442 | 1.5395 |
| Primary Scenario | The pair is now heading towards the resistance level at 1.5604. Any successful attempt to penetrate this level will most likely lead the way up to the next target at 1.5652. | ||
| Alternative Scenario | Alternatively, a setback of GBPUSD will push prices to find support at the daily pivot (1.5547) and even lower at 1.5500. | ||
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USDCHF | H4 | |
| Resistance | 0.9661 | 0.9697 | 0.9762 |
| Support | 0.9559 | 0.9493 | 0.9457 |
| Primary Scenario | USDCHF is pivoting around the daily pivot at 0.9595. A decisive thrust of the barrier at 0.9661 will accelerate the pair to target the next resistance at 0.9697. | ||
| Alternative Scenario | Should the pair manage to violate the daily pivot, the next support is seen at 0.9559. | ||
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USDJPY | H4 |  |
| Resistance | 123.60 | 124.09 | 124.47 |
| Support | 123.40 | 122.82 | 122.31 |
| Primary Scenario | The pair is now testing the resistance level at 123.60, within the Kumo. A fruitless attempt to move higher will push USDJPY to hit the support at 123.40. Further drop of the market will open the way down to the lower level of the cloud at 122.82. | ||
| Alternative Scenario | On the other hand, a successful penetration of the hurdle at 123.60 will fuel the pair towards the higher level of the cloud at 124.09. | ||
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AUDUSD | H4 | |
| Resistance | 0.7306 | 0.7344 | 0.7365 |
| Support | 0.7247 | 0.7226 | 0.7188 |
| Primary Scenario | AUDUSD cleared the daily pivot point at 0.7285 and the resistance level at 0.7306. If the pair manages to extend its momentum, it will target the forthcoming resistance levels at 0.7344 and 0.7365. | ||
| Alternative Scenario | A plunge of the market will push the pair lower towards the support level at 0.7306 and further down at 0.7285. | ||
The post USDJPY is trading within the Kumo. appeared first on Forex Circles.
Source:: USDJPY is trading within the Kumo.
