USDJPY pair is now poised to penetrate the upper level of the Kumo.

Posted On 24 Jun 2015

Tag: EURUSD, GBPUSD, Support & Resistance, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1297	1.1428	1.1509
Support	1.1085	1.1003	1.0872
Primary Scenario	EURUSD managed to violate the daily pivot point at 1.1215. A sustained trading below this level will most likely push prices to find support at 1.1085 and then lower at 1.1003.
Alternative Scenario	Should the pair achieve to exceed the daily pivot, the next resistance is seen at 1.1297.

	GBPUSD	H4
Resistance	1.5803	1.5878	1.5925
Support	1.5680	1.5633	1.5558
Primary Scenario	The pair is negotiating narrowly below thee daily pivot (1.5755). A decisive movement to the south will lead GBPUSD to retest the support level at 1.5680 and even lower towards 1.5633.
Alternative Scenario	An upward momentum will lift the exchange rate to penetrate the daily pivot, targeting the resistance level at 1.5803.

	USDCHF	H4
Resistance	0.9411	0.9488	0.9589
Support	0.9234	0.9132	0.9056
Primary Scenario	USDCHF is hovering above the daily pivot at 0.9310. Any forceful movement to the north will trigger the market to surpass the hurdle at 0.9411, with immediate target the resistance level at 0.9488.
Alternative Scenario	A setback of the currency pair will push the market below the daily pivot, opening the way down to 0.9234.

	USDJPY	H4
Resistance	124.14	124.43	124.95
Support	123.80	123.44	123.01
Primary Scenario	The pair is now poised to penetrate the upper level of the Kumo (124.14). If that happens, the next resistance is estimated at 124.43 and even higher at 124.95.
Alternative Scenario	On the other hand, a plunge of the market will retest the support at 123.80. A break back below this level will pave the path down to 123.44, out of the cloud.

	AUDUSD	H4
Resistance	0.7761	0.7788	0.7830
Support	0.7692	0.7651	0.7624
Primary Scenario	AUDUSD is gyrating the daily pivot point at 0.7720. A tumble of the pair will push prices to retest the support level at 0.7692 and further down to 0.7651.
Alternative Scenario	Alternatively, a higher thrust of the currency pair will lift the market towards the resistance level at 0.7761.

The post USDJPY pair is now poised to penetrate the upper level of the Kumo. appeared first on Forex Circles.

Source:: USDJPY pair is now poised to penetrate the upper level of the Kumo.

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