USDJPY is flirting with a new bearish sentiment.

July 29, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1098 1.1137 1.1175
Support 1.1021 1.0982 1.0943
Primary Scenario The strength of EURUSD faded. If the bulls achieve to take control of the bears, the market will gain momentum to retest the hurdle at 1.1098 and even higher at 1.1137.
Alternative Scenario Should the pair manage to breach the daily pivot (1.1059), it will find support at 1.1021.

 

 

GBPUSD H4
Resistance 1.5650 1.5688 1.5749
Support 1.5550 1.5489 1.5450
Primary Scenario The pair has finally managed to exceed the key resistance at 1.5588 (daily pivot). Further increase of the exchange rate will lift GBPUSD towards the resistance levels at 1.5650 and 1.5688.
Alternative Scenario On the other hand, a plunge of the currency pair below the daily pivot point will open the way down to 1.5550.

 

 

USDCHF H4
Resistance 0.9662 0.9702 0.9731
Support 0.9592 0.9563 0.9523
Primary Scenario Having reversed from the previous top at 0.9662, USDCHF is negotiating below the daily pivot (0.9633). If the pair manages to violate the support at 0.9592, the next target is seen at 0.9563.
Alternative Scenario Alternatively, a higher thrust of the pair will trigger the market to penetrate the daily pivot, with immediate target the resistance level at 0.9662.

 

 

USDJPY H4
Resistance 123.60 123.79 124.09
Support 123.31 122.82 122.31
Primary Scenario USDJPY is flirting with a new bearish sentiment. Any decisive movement to the south will push prices to breach the lower level of the Kumo at 123.31. If that happens, the next support is estimated at 122.82 and a new bearish outlook will be in force.
Alternative Scenario An upward wave would lead the pair to surpass the Kijun-sen line (123.60), targeting the forthcoming resistance at 123.79.

AUDUSD H4
Resistance 0.7366 0.7398 0.7453
Support 0.7279 0.7224 0.7192
Primary Scenario AUDUSD bounced up from the previous bottom and is now trading above the daily pivot point at 0.7311. A surge of the exchange rate will fuel the pair further towards the resistance level at 0.7366 and then higher at 0.7398.
Alternative Scenario A comeback of the currency pair will lead the rate below the daily pivot and further down to 0.7279.

 

 

Article by ForexTime

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