USDJPY: The strength of the market faded.

Posted On 26 Apr 2016

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1290	1.1313	1.1350
Support	1.1229	1.1193	1.1169
Primary Scenario	EURUSD bounced up from the previous bottom and is now negotiating slightly above the daily pivot at 1.1253. Should the pair manage to withstand the sellers’ pressure, it will retest the hurdle at 1.1290 and then higher at 1.1313.
Alternative Scenario	A plunge of the currency pair below the daily pivot will lead the exchange rate down to 1.1229.

	GBPUSD	H4
Resistance	1.4531	1.4583	1.4647
Support	1.4415	1.4350	1.4298
Primary Scenario	The pair has reached fresh grounds in the previous session. Further bullish momentum will most likely fuel the pair to climb towards the resistance level at 1.4531 and even higher at 1.4583.
Alternative Scenario	On the other hand, a break back below the daily pivot will open the way down to 1.4415.

	USDCHF	H4
Resistance	0.9779	0.9810	0.9831
Support	0.9726	0.9704	0.9674
Primary Scenario	USDCHF is oscillating around the daily pivot at 0.9757. A decisive movement to the north will accelerate the pair to hit the barrier at 0.9779 and further up to 0.9810.
Alternative Scenario	A reversal back below the daily pivot will pave the path down to 0.9726.

	USDJPY	H4
Resistance	111.33	111.85	112.48
Support	110.81	110.28	109.81
Primary Scenario	The strength of the market faded and USDJPY is moving sideways this week. A successful attempt to penetrate the key level at 111.33 will trigger the market towards 111.85 and then higher at 112.48.
Alternative Scenario	Alternatively, a breach of the important support at 110.81 will push prices to find support at 110.28.

	AUDUSD	H4
Resistance	0.7730	0.7748	0.7768
Support	0.7693	0.7672	0.7655
Primary Scenario	AUDUSD is gyrating the daily pivot point at 0.7710. If the pair manages to extend its downtrend, the next support is seen at 0.7693 and then lower at 0.7672.
Alternative Scenario	A higher thrust of the market will lead the pair to cross above the daily pivot, with immediate target the resistance at 0.7730.

The post USDJPY: The strength of the market faded. appeared first on FXTM Blog.

Source:: USDJPY: The strength of the market faded.

About the Author

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC. Our mission is to maximize the value our clients derive from their most precious commodity, "Time"! By offering advanced and innovative services, optimal customer care and perpetual devotion to our clients, we will ensure that their individual needs are always met as markets continue to evolve over time. Visit ForexTime to learn more www.forextime.com [space height="20"] [social type="facebook"]https://www.facebook.com/ForexTime[/social] [social type="twitter"]https://twitter.com/ItsForexTime[/social] [social type="google-plus"]https://plus.google.com/u/0/+ForextimeFXTM/posts[/social] [social type="youtube"]https://www.youtube.com/user/ItsForexTime[/social]