USDJPY: Trading in a bullish sentiment.

EURUSD Technical Analysis
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.


GBPUSD Technical Analysis 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.


USDCHF Technical Analysis USDCHF H4 Down Trend
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.


USDJPY Technical Analysis 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.


AUDUSD Technical Analysi 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.

Source:: USDJPY: Trading in a bullish sentiment.

About the Author
Forex Alchemy is your daily source of cutting edge information, tips, tools, articles, analysis from across the Forex trading industry. If you would like to guest post or contribute regular articles on Forex Alchemy then please contact us here.

Leave a Reply