USDJPY: The bullish outlook is still in force.

Posted On 09 Apr 2015

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

	EURUSD	H4
Resistance	1.0856	1.0933	1.0980
Support	1.0732	1.0686	1.0609
Primary Scenario	EURUSD has dropped below the daily pivot (1.0809). Further slide of the market will lead the pair underway towards the support levels at 1.0732 and 1.0686.
Alternative Scenario	Should the pair achieve to penetrate the daily pivot, it will retest the hurdle at 1.0856.

	GBPUSD	H4
Resistance	1.4956	1.5046	1.5121
Support	1.4791	1.4716	1.4626
Primary Scenario	The pair is revolving the daily pivot point at 1.4881. A decisive movement to the south will push GBPUSD to retest the key support at 1.4791. A break below this level will most likely open the way down to 1.4716.
Alternative Scenario	A surge of the exchange rate above the daily pivot will lift the market towards the resistance level at 1.4956.

	USDCHF	H4
Resistance	0.9692	0.9720	0.9768
Support	0.9615	0.9567	0.9538
Primary Scenario	USDCHF gained momentum and approached the hurdle at 0.9692. A successful attempt to exceed this level will trigger the market to target the forthcoming resistance at 0.9720 and even higher at 0.9768.
Alternative Scenario	A comeback of the currency pair will push prices to find support at the daily pivot at 0.9644.

	USDJPY	H4
Resistance	120.44	121.20	122.03
Support	120.00	119.75	119.33
Primary Scenario	The bullish outlook is still in force and USDJPY is trading near the previous top. Any fruitful attempt to penetrate the obstacle at 120.44 will be stimulus for the pair to target the resistance level at 121.20.
Alternative Scenario	A downward wave would put pressure to the market for a correction phase down to 120.00 and 119.75.

	AUDUSD	H4
Resistance	0.7730	0.7777	0.7827
Support	0.7632	0.7581	0.7534
Primary Scenario	AUDUSD has experienced strong resistance at 0.7730. Any forceful movement to the north will fuel the pair to exceed this level with immediate target the resistance level at 0.7777.
Alternative Scenario	On the other hand, a plunge of the pair below the daily pivot will push the market down to 0.7632.

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Source:: USDJPY: The bullish outlook is still in force.

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