Previous Story
The USDJPY pair collapsed yesterday.
| EURUSD | H4 | ||
| 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 | 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 | H4 |  |
| 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 | H4 | |
| 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 | 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. | ||
The post The USDJPY pair collapsed yesterday. appeared first on FXTM Blog.
Source:: The USDJPY pair collapsed yesterday.
