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USDJPY: The trend has been overall neutral during this week.
| EURUSD | H4 | ||
| Resistance | 1.1385 | 1.1454 | 1.1494 |
| Support | 1.1275 | 1.1235 | 1.1165 |
| Primary Scenario | EURUSD edged up at 1.1414, before retracing below the daily pivot at 1.1345. A successful violation of the key level at 1.1275 will push prices to find support at 1.1235 and then lower towards 1.1165. | ||
| Alternative Scenario | A higher thrust of the market will lead the exchange rate above the daily pivot, targeting the resistance level at 1.1385. | ||
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GBPUSD | H4 | |
| Resistance | 1.4505 | 1.4555 | 1.4585 |
| Support | 1.4424 | 1.4395 | 1.4344 |
| Primary Scenario | The pair is gyrating the daily pivot point (1.4475). Should GBPUSD achieve to breach the support level at 1.4424, the next target is seen at 1.4395. | ||
| Alternative Scenario | Alternatively, a surge of the pair above the daily pivot will lift the exchange rate towards 1.4505. | ||
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USDCHF | H4 |  |
| Resistance | 0.9673 | 0.9703 | 0.9751 |
| Support | 0.9595 | 0.9547 | 0.9517 |
| Primary Scenario | USDCHF bottomed at 0.9577, before closing above the daily pivot at 0.9625. If the pair manages to withstand the sellers’ pressure, it will eliminate the hurdle at 0.9673, with immediate target the resistance at 0.9703. | ||
| Alternative Scenario | A plunge of the currency pair below the daily pivot will lead the market to retest the support level at 0.9595. | ||
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USDJPY | H4 | |
| Resistance | 107.25 | 107.91 | 108.59 |
| Support | 106.91 | 106.22 | 105.50 |
| Primary Scenario | The trend has been overall neutral during this week for the USDJPY pair. A decisive movement to the south will push prices to break the barrier at 106.91, opening the way down to 106.22. | ||
| Alternative Scenario | On the other hand, an upward wave above the hurdle at 107.25 will trigger the market to hit the next resistance at 107.91. | ||
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AUDUSD | H4 | |
| Resistance | 0.7482 | 0.7535 | 0.7566 |
| Support | 0.7398 | 0.7367 | 0.7314 |
| Primary Scenario | AUDUSD is now testing the important support at 0.7398. Any forceful attempt to violate this level will pave the path down to 0.7367 and even lower at 0.7314. | ||
| Alternative Scenario | If the pair achieves to surpass the daily pivot (0.7451), it will target the resistance at 0.7482. | ||
The post USDJPY: The trend has been overall neutral during this week. appeared first on FXTM Blog.
Source:: USDJPY: The trend has been overall neutral during this week.
