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USDJPY: Trading in a bullish sentiment.
Posted On 12 Nov 2014
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| EURUSD | H4 | ||
| Resistance | 1.2517 | 1.2560 | 1.2621 |
| Support | 1.2412 | 1.2351 | 1.2308 |
| Primary Scenario | EURUSD has been trapped between the support level 1.2351 and 1.2517. A decisive movement upwards will lead the pair to increase above the barrier at 1.2517, targeting the resistance level at 1.2560. | ||
| Alternative Scenario | Alternatively, a setback of the market will push prices below the daily pivot, down to the support level at 1.2412. | ||
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GBPUSD | H4 | |
| Resistance | 1.5962 | 1.6007 | 1.6071 |
| Support | 1.5852 | 1.5789 | 1.5743 |
| Primary Scenario | The pair is intended to reach the resistance at 1.5962. If that happens, the currency rate will move higher towards the resistance level at 1.6007. | ||
| Alternative Scenario | Should the pair manage to breach the daily pivot (1.5898), it will find support at 1.5852. | ||
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USDCHF | H4 |  |
| Resistance | 0.9688 | 0.9732 | 0.9763 |
| Support | 0.9613 | 0.9581 | 0.9537 |
| Primary Scenario | USDCHF is gyrating the daily pivot at 0.9656. A downward wave will lead prices to the barrier at 0.9613 and then lower to the forthcoming support at 0.9581. | ||
| Alternative Scenario | A higher thrust of the market will lift the pair to reach the daily pivot point and further up at 0.9688. | ||
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USDJPY | H4 | |
| Resistance | 116.08 | 116.60 | 118.30 |
| Support | 114.96 | 114.46 | 113.85 |
| Primary Scenario | The strength of USDJPY faded, but it is still trading within a bullish sentiment. If the pair manages to withstand the bears pressure, it will climb towards the resistance level at 116.08 and even higher at 116.60. | ||
| Alternative Scenario | Further correction of the pair, will push prices lower to the support at 114.96 and then lower at 114.46. | ||
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AUDUSD | H4 | |
| Resistance | 0.8738 | 0.8792 | 0.8866 |
| Support | 0.8610 | 0.8536 | 0.8482 |
| Primary Scenario | AUDUSD negotiates slightly above the daily pivot at 0.8664. Any forceful movement to the north, will fuel the pair to target the resistance level at 0.8738. The next resistance is seen at 0.8792. | ||
| Alternative Scenario | A break back below the daily pivot, will lead the exchange rate down to the support level at 0.8610. | ||
The post USDJPY: Trading in a bullish sentiment. appeared first on Forex Circles.
