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USDJPY plunged into a multi-year low.
| EURUSD | H4 | ||
| Resistance | 1.1242 | 1.1293 | 1.1371 |
| Support | 1.1112 | 1.1034 | 1.0983 |
| Primary Scenario | EURUSD has retested the important resistance level at 1.1242. If the pair manages to withstand the sellers’ pressure, it will eliminate this level, with immediate target the resistance at 1.1293 and further up to 1.1371. | ||
| Alternative Scenario | A reversal back below the daily pivot point (1.1164) will push prices to find support at 1.1112. | ||
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GBPUSD | H4 |  |
| Resistance | 1.4532 | 1.4637 | 1.4728 |
| Support | 1.4337 | 1.4246 | 1.4141 |
| Primary Scenario | The pair is trading below the daily pivot at 1.4441. Any downward momentum below the support level at 1.4337 will open the way down to 1.4246. | ||
| Alternative Scenario | On the other hand, a higher thrust above the daily pivot will lift GBPUSD towards the hurdle in line at 1.4532. | ||
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USDCHF | H4 | |
| Resistance | 0.9945 | 1.0024 | 1.0076 |
| Support | 0.9813 | 0.9761 | 0.9681 |
| Primary Scenario | USDCHF is following a downtrend. If the bears achieve to take control of the bulls and violate the level at 0.9813, the next support is seen at 0.9761 and even lower at 0.9681. | ||
| Alternative Scenario | An upward wave would fuel the pair to penetrate the daily pivot at 0.9892, targeting the forthcoming resistance level at 0.9945. RSI supports this outlook. | ||
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USDJPY | H4 | |
| Resistance | 115.16 | 115.83 | 116.43 |
| Support | 114.18 | 113.45 | 112.87 |
| Primary Scenario | The USDJPY pair plunged into a multi-year low. A drop of the market below the key support level at 114.18 will pave the path down to 113.45. | ||
| Alternative Scenario | Alternatively, if the pair manages to break above the hurdle at 115.16 will bring the market into a correction course. The next resistance is estimated at 115.83. RSI is trading within the oversold zone. | ||
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AUDUSD | H4 | |
| Resistance | 0.7124 | 0.7165 | 0.7202 |
| Support | 0.7046 | 0.7009 | 0.6969 |
| Primary Scenario | AUDUSD cleared the support level at 0.7046. Should the pair manage to extend its momentum, it will target the next support level at 0.7009 and then lower at 0.6969. | ||
| Alternative Scenario | A successful attempt to penetrate the barrier at 0.7046 will trigger the market to hit the daily pivot at 0.7124. | ||
The post USDJPY plunged into a multi-year low. appeared first on FXTM Blog.
