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USDJPY: The bullish scenario is still in effect.
| EURUSD | H4 | ||
| Resistance | 1.0940 | 1.1015 | 1.1063 |
| Support | 1.0816 | 1.0768 | 1.0692 |
| Primary Scenario | A strong bearish movement led EURUSD below the daily pivot (1.0891). If the pair achieves to extend its momentum, it will drop further towards the support level at 1.0816 and then lower at 1.0768. | ||
| Alternative Scenario | A higher thrust of the exchange rate would fuel the pair to surpass the daily pivot, targeting the resistance level at 1.0940. | ||
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GBPUSD | H4 | |
| Resistance | 1.5431 | 1.5480 | 1.5515 |
| Support | 1.5347 | 1.5312 | 1.5263 |
| Primary Scenario | The pair is oscillating slightly below the daily pivot point at 1.5396. A decisive movement to the south will push prices to eliminate the support level at 1.5347, with immediate target the forthcoming target level at 1.5312. | ||
| Alternative Scenario | An upward wave would lift GBPUSD above the daily pivot, towards the resistance level at 1.5431. | ||
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USDCHF | H4 |  |
| Resistance | 0.9960 | 0.9988 | 1.0026 |
| Support | 0.9894 | 0.9856 | 0.9827 |
| Primary Scenario | USDCHF has finally penetrated the daily pivot at 0.9922. If the pair manages to withhold the sellers’ pressure, it will climb towards the resistance levels at 0.9960 and 0.9988. | ||
| Alternative Scenario | Alternatively, a plunge of the market below the daily pivot will open the way down to 0.9894. | ||
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USDJPY | H4 | |
| Resistance | 121.70 | 122.01 | 122.40 |
| Support | 121.34 | 121.10 | 120.81 |
| Primary Scenario | The bullish scenario is still in effect. If the pair manages to exceed the hurdle at 121.70, the next resistance is estimated at 122.01. | ||
| Alternative Scenario | On the other hand, a comeback of the currency pair below the key level at 121.34 will push the pair to find support at 121.10. | ||
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AUDUSD | H4 | |
| Resistance | 0.7201 | 0.7256 | 0.7289 |
| Support | 0.7113 | 0.7080 | 0.7025 |
| Primary Scenario | AUDUSD edged up at 0.7223, before closing below the daily pivot point at 0.7168. Further drop of the market will lead the exchange rate towards the support level at 0.7113 and even lower at 0.7080. | ||
| Alternative Scenario. | Should the pair manage to surpass the daily pivot, the next resistance is seen at 0.7201. | ||
The post USDJPY: The bullish scenario is still in effect. appeared first on Forex Circles.
