USDJPY has experienced strong resistance in the previous session.

August 7, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0953 1.0982 1.1022
Support 1.0884 1.0843 1.0814
Primary Scenario EURUSD finally achieved to exceed the daily pivot point at 1.0913. A sustained trading above this level will accelerate the market to retest the resistance level at 1.0953 and even higher at 1.0982.
Alternative Scenario Should the pair manage to break below the daily pivot, it will find support at 1.0884.

 

 

GBPUSD H4
Resistance 1.5609 1.5707 1.5778
Support 1.5440 1.5369 1.5271
Primary Scenario A strong bearish movement led GBPUSD to violate the critical support level at 1.5538 (daily pivot). A persistent trading below this level will most likely open the way down to 1.5440 and then lower at 1.5369.
Alternative Scenario On the other hand, an upward wave would lift the exchange rate above the daily pivot, with immediate target the resistance level at 1.5609.

 

 

USDCHF H4
Resistance 0.9846 0.9886 0.9926
Support 0.9766 0.9726 0.9687
Primary Scenario USDCHF is negotiating on the daily pivot point (0.9806). If the pair manages to withstand the sellers’ pressure, it will climb towards the resistance levels at 0.9846 and 0.9886.
Alternative Scenario A reversal back below the daily pivot will lead the currency pair to hit the support level at 0.9766.

 

 

USDJPY H4
Resistance 125.00 125.49 125.86
Support 124.70 124.27 123.94
Primary Scenario The USDJPY pair has experienced strong resistance in the previous session. A decisive movement to the north will eliminate the hurdle in line at 125.00, targeting the forthcoming resistance at 125.49.
Alternative Scenario A plunge of the market below the support level at 124.70 will lead the currency pair underway towards the support level at 124.27.

AUDUSD H4
Resistance 0.7384 0.7425 0.7460
Support 0.7308 0.7273 0.7232
Primary Scenario AUDUSD is oscillating around the daily pivot point at 0.7349. If the pair manages to surpass the resistance at 0.7384, the next target is seen at 0.7425.
Alternative Scenario Alternatively, a comeback of the pair below the daily pivot will push prices to find support at 0.7308.

 

 

Article by ForexTime

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