The USDJPY pair collapsed yesterday.

EURUSD Technical Analysis
Resistance 1.1195 1.1290 1.1436
Support 1.0953 1.0807 1.0711
Primary Scenario EURUSD surged into a multi-month high at 1.1144. If the pair manages to extend its uptrend, the next resistance level is seen at 1.1195 and even higher at 1.1290.
Alternative Scenario A break back below the daily pivot (1.1049) will open the way down to 1.0953. RSI is trading within the overbought territory.


GBPUSD Technical Analysis GBPUSD H4
Resistance 1.4701 1.4807 1.4967
Support 1.4436 1.4276 1.4171
Primary Scenario The pair is finally negotiating above the daily pivot at 1.4542. A bounce up from current levels would lift the exchange rate towards the resistance level at 1.4701 and then higher at 1.4807.
Alternative Scenario Alternatively, if GBPUSD achieves to violate the daily pivot it will find support at 1.4436.


USDCHF Technical Analysis USDCHF H4 Down Trend
Resistance 1.0157 1.0278 1.0363
Support 0.9951 0.9866 0.9745
Primary Scenario A strong bearish movement led USDCHF to plunge in the previous session. Further drop of the market will push prices to find support at 0.9951 and further down to 0.9866.
Alternative Scenario An upward wave will push the market to penetrate the daily pivot (1.0072), with immediate target the resistance at 1.0157. RSI oscillator is trading slightly within the overbought zone.


USDJPY Technical Analysis USDJPY H4 Down Trend
Resistance 118.24 118.65 119.05
Support 117.56 117.04 116.46
Primary Scenario The USDJPY pair collapsed yesterday. A decisive movement below the key support at 117.56 will trigger the market out of the cloud, hitting the forthcoming support level at 117.04. The next support is estimated at 116.46.
Alternative Scenario On the other hand, a surge of the exchange rate above the hurdle at 118.24 will fuel the pair towards 118.65.


AUDUSD Technical Analysi AUDUSD H4
Resistance 0.7235 0.7304 0.7421
Support 0.7048 0.6932 0.6862
Primary Scenario AUDUSD has achieved to surpassed the critical level at 0.7118 (daily pivot). Should the pair manage to extend its momentum, it will target 0.7235 and then higher at 0.7304.
Alternative Scenario. A plunge of the market below the daily pivot will pave the path down to 0.7048.


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Source:: The USDJPY pair collapsed yesterday.

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