USDJPY plunged today into a fresh low.

Posted On 16 Dec 2014
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EURUSD Technical Analysis
Resistance 1.2470 1.2506 1.2534
Support 1.2406 1.2378 1.2342
Primary Scenario EURUSD is pivoting around the daily pivot at 1.2442. Should the pair manage to exceed the barrier at 1.2470, it will target the forthcoming resistance at 1.2506.
Alternative Scenario A comeback of the market, will push prices below the daily pivot and even lower at 1.2406.


GBPUSD Technical Analysis GBPUSD H4 Down Trend
Resistance 1.5721 1.5806 1.5866
Support 1.5575 1.5515 1.5430
Primary Scenario The pair is trading below the daily pivot zone (1.5660). A drop of GBPUSD will lead the market to retest the support level at 1.5575 and further down to 1.5515.
Alternative Scenario A successful surpass of the daily pivot, will trigger the market to target the resistance level at 1.5721.


USDCHF Technical Analysis USDCHF H4 Down Trend
Resistance 0.9677 0.9700 0.9727
Support 0.9627 0.9600 0.9577
Primary Scenario The bearish outlook is still in force. If the pair manages to extend its downtrend, it will push USDCHF to test the support level at 0.9627 and then lower at 0.9600.
Alternative Scenario An upward momentum will fuel the pair to penetrate the daily pivot at 0.9650 and further up at 0.9677.


USDJPY Technical Analysis USDJPY H4 Down Trend
Resistance 117.82 118.09 118.52
Support 117.11 116.79 116.35
Primary Scenario USDJPY plunged today into a fresh low. A break back below the support at 117.11 will open the way down to the next support at 116.79.
Alternative Scenario A reversal back from current levels will lead the pair towards the resistance level at 117.82.


AUDUSD Technical Analysi AUDUSD H4
Resistance 0.8251 0.8292 0.8318
Support 0.8184 0.8158 0.8117
Primary Scenario AUDUSD bounced up from the previous bottom and achieved to exceed the daily pivot (0.8225). If the pair manages to extend the upward momentum, it will climb towards the resistance levels at 0.8251 and 0.8292.
Alternative Scenario A tumble of the market below the daily pivot, will push prices to find support at 0.8184.


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