USDJPY pair tumbled in the previous session.

March 19, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1033 1.1240 1.1467
Support 1.0599 1.0372 1.0165
Primary Scenario A strong movement upwards led EURUSD to reach the resistance level at 1.1033, before closing below the daily pivot point at 1.0806. A deeper correction of the market will push prices lower towards the support level at 1.0599.
Alternative Scenario A successful attempt to penetrate the daily pivot will trigger the market to retest the hurdle at 1.1033.

 

 

GBPUSD H4
Resistance 1.5191 1.5426 1.5705
Support 1.4677 1.4399 1.4164
Primary Scenario The pair is trading slightly below the daily pivot (1.4913). A decisive movement to the south will most likely push the pair to find support at 1.4677. Further drop of GBPUSD will open the way down to 1.4399.
Alternative Scenario On the other hand, a higher thrust of the exchange rate will lift the market above the daily pivot with immediate target the resistance at 1.5191.

USDCHF H4
Resistance 1.0048 1.0276 1.0484
Support 0.9612 0.9404 0.9176
Primary Scenario USDCHF bounced up from the previous bottom and is now heading towards the resistance level at 1.0048. A successful surpass of this level will generate strength for the market to target the forthcoming resistance at 1.0276.
Alternative Scenario A comeback of the currency pair will lead the market below the daily pivot. The next support is seen at 0.9612.

 

USDJPY H4
Resistance 120.68 121.23 121.66
Support 120.34 120.05 119.29
Primary Scenario The USDJPY pair tumbled in the previous session, before retracing back narrowly below the Kumo. If the pair manages to breach the support level at 120.34 and 120.05, it will find support at 119.29.
Alternative Scenario Alternatively, should the market achieve to penetrate the barrier at 120.68, it will target the upper level of the Kumo at 121.23.

 

AUDUSD H4
Resistance 0.7858 0.7977 0.8111
Support 0.7606 0.7471 0.7353
Primary Scenario AUDUSD finally managed to exceed the daily pivot at 0.7724. A sustained trading above this level will fuel the pair further towards the resistance level at 0.7858 and then higher at 0.7977.
Alternative Scenario A plunge of the pair below the daily pivot will lead the rate lower down to 0.7606.

 

 

Article by ForexTime

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