USDJPY turned sharply bullish in the previous session.

EURUSD Technical Analysis
Resistance 1.1132 1.1264 1.1333
Support 1.0931 1.0862 1.0730
Primary Scenario EURUSD topped up at 1.1215, before retracing below the daily pivot point at 1.1063. Further drop of the market will push prices to find support at 1.0931 and then lower at 1.0862.
Alternative Scenario If the pair manages to penetrate the daily pivot, it will target the resistance level at 1.1132.


GBPUSD Technical Analysis GBPUSD H4
Resistance 1.5555 1.5625 1.5663
Support 1.5447 1.5410 1.5340
Primary Scenario The pair is heading towards the support level at 1.5447. Any decisive momentum to violate the obstacle at 1.5447 will most likely lead the exchange rate down to 1.5410 and further down to 1.5340.
Alternative Scenario A higher thrust of GBPUSD will lift the currency pair above the daily pivot and then higher at 1.5555.


USDCHF Technical Analysis USDCHF H4 Up Trend
Resistance 0.9545 0.9591 0.9680
Support 0.9410 0.9321 0.9275
Primary Scenario USDCHF is now trading slightly below the key resistance level at 0.9545. A successful attempt to surpass this level will trigger the market to target the forthcoming resistances at 0.9591 and 0.9680.
Alternative Scenario A plunge of the currency pair below the daily pivot (0.9456) will pave the way down to 0.9410.


USDJPY Technical Analysis USDJPY H4 Up Trend
Resistance 123.72 124.35 125.06
Support 123.37 122.92 122.19
Primary Scenario The USDJPY pair turned sharply bullish in the previous session and a new bullish outlook is now in effect. If the pair manages to extend its uptrend, it will eliminate the hurdle at 123.72, targeting the resistance level at 124.35.
Alternative Scenario A failed attempt to move higher will push the market to breach the support level at 123.37, with immediate target the upper level of the Kumo at 122.92.


AUDUSD Technical Analysi AUDUSD H4 Up Trend
Resistance 0.7453 0.7503 0.7539
Support 0.7368 0.7332 0.7283
Primary Scenario AUDUSD is hovering around the daily pivot at 0.7417. An upward wave would generate strength for the currency pair to climb towards the resistance level at 0.7453 and even higher at 0.7503.
Alternative Scenario Should the pair achieve to break below the daily pivot, the next support is seen at 0.7368.


The post USDJPY turned sharply bullish in the previous session. appeared first on Forex Circles.

Source:: USDJPY turned sharply bullish in the previous session.

About the Author
ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC. Our mission is to maximize the value our clients derive from their most precious commodity, "Time"! By offering advanced and innovative services, optimal customer care and perpetual devotion to our clients, we will ensure that their individual needs are always met as markets continue to evolve over time. Visit ForexTime to learn more [space height="20"] [social type="facebook"][/social] [social type="twitter"][/social] [social type="google-plus"][/social] [social type="youtube"][/social]

Related Posts

Leave a Reply