USDJPY: The bullish scenario is still in effect.

EURUSD Technical Analysis
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.

EURUSDH4

GBPUSD Technical Analysis 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.

GBPUSDH4

USDCHF Technical Analysis USDCHF H4 Up Trend
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.

USDCHFH4

USDJPY Technical Analysis USDJPY H4 Up Trend
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.

USDJPYH4

AUDUSD Technical Analysi AUDUSD H4 Up Trend
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.

AUDUSDH4

The post USDJPY: The bullish scenario is still in effect. appeared first on Forex Circles.

Source:: USDJPY: The bullish scenario is still in effect.

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