USDJPY: Now testing the previous top.

EURUSD Technical Analysis
Resistance 1.2502 1.2529 1.2567
Support 1.2437 1.2399 1.2372
Primary Scenario EURUSD tumbled on Friday and cleared the strong support at 1.2437. A further drop of the pair will open the way towards the support at 1.2399 and even lower at 1.2372.
Alternative Scenario Should the pair manage to exceed the resistance at 1.2437, it will jump up to the daily pivot at 1.2464.


GBPUSD Technical Analysis GBPUSD H4
Resistance 1.5762 1.5814 1.5848
Support 1.5675 1.5641 1.5588
Primary Scenario The pair is following a downtrend and is heading to the support level at 1.5641. If GBPUSD manages to breach this level, it will push prices lower to the next support at 1.5588.
Alternative Scenario An upward wave will bring the market into a correction course to the north, targeting the resistance at 1.5675 and then higher at 1.5727 (daily pivot). RSI supports this scenario.


USDCHF Technical Analysis USDCHF H4 Up Trend
Resistance 0.9664 0.9694 0.9715
Support 0.9613 0.9591 0.9561
Primary Scenario A strong move led USDCHF to penetrate the barrier at 0.9664. A sustained trading above this level will lift the market towards the resistance level at 0.9694 and further up at 0.9715.
Alternative Scenario A comeback of the exchange rate will lead the pair to breach the support at 0.9664. The next support is seen at 0.9643 (daily pivot).


USDJPY Technical Analysis USDJPY H4 Up Trend
Resistance 116.29 116.77 117.70
Support 115.78 115.30 114.98
Primary Scenario USDJPY is now testing the previous top at 116.29. If the pair achieves to surpass this level, it will climb towards the Fibonacci resistance level 261.8% at 116.77.
Alternative Scenario A reversal back of the market will push USDJPY to find support at 115.78.


AUDUSD Technical Analysi AUDUSD H4
Resistance 0.8765 0.8810 0.8857
Support 0.8672 0.8625 0.8580
Primary Scenario AUDUSD topped up at 0.8765, before closing below the daily pivot (0.8718). If the pair manages to extend its downward momentum, it will violate the forthcoming support at 0.8672. The next support is seen at 0.8625.
Alternative Scenario Alternatively, a higher thrust of the currency rate will target the daily pivot.


The post USDJPY: Now testing the previous top. appeared first on Forex Circles.

Source:: USDJPY: Now testing the previous top.

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