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USDJPY: The bullish outlook is still in force.
| EURUSD | H4 | ||
| Resistance | 1.0972 | 1.1017 | 1.1069 |
| Support | 1.0875 | 1.0824 | 1.0779 |
| Primary Scenario | EURUSD is now poised to retest the hurdle at 1.0972. A successful attempt to penetrate this level will fuel the pair further towards the forthcoming resistance level at 1.1017. | ||
| Alternative Scenario | A reversal back below the daily pivot point at 1.0921 will lead the currency pair to find support at 1.0875. | ||
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GBPUSD | H4 | |
| Resistance | 1.5657 | 1.5703 | 1.5762 |
| Support | 1.5553 | 1.5494 | 1.5448 |
| Primary Scenario | The trading range is limited to the support level at 1.5553 and the resistance level at 1.5657. Any decisive movement to the north will most likely eliminate the barrier at 1.5657, with immediate target the next resistance at 1.5703. | ||
| Alternative Scenario | On the other hand, a plunge of the exchange rate below the daily pivot (1.5599) will open the way down to 1.5553. | ||
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USDCHF | H4 |  |
| Resistance | 0.9632 | 0.9667 | 0.9703 |
| Support | 0.9561 | 0.9525 | 0.9490 |
| Primary Scenario | The strength of the market faded and USDCHF returned below the daily pivot point at 0.9596. Any forceful bearish momentum will push prices to find support at 0.9561 and even lower at 0.9525. | ||
| Alternative Scenario | A higher thrust of the market will lift the pair to hit the hurdle at 0.9632. | ||
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USDJPY | H4 | |
| Resistance | 124.13 | 124.47 | 125.06 |
| Support | 123.84 | 123.56 | 123.04 |
| Primary Scenario | The USDJPY pair is still negotiating above the Kumo and the bullish outlook is still in force. If the pair manages to withstand the sellers’ pressure, it will climb towards the resistance levels at 124.13 and 124.47. | ||
| Alternative Scenario | Should the pair achieve breach the support level at 123.84, it will test the upper level of the cloud at 123.56. | ||
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AUDUSD | H4 | |
| Resistance | 0.7420 | 0.7468 | 0.7498 |
| Support | 0.7342 | 0.7312 | 0.7265 |
| Primary Scenario | AUDUSD is trading below the daily pivot (0.7390). Further drop of the market will lead the rate to violate the support level at 0.7342, targeting the next level at 0.7312. | ||
| Alternative Scenario | A surge of the pair above the daily pivot point will trigger the market to exceed the daily pivot. The next resistance is seen at 0.7420. | ||
The post USDJPY: The bullish outlook is still in force. appeared first on Forex Circles.
