USDJPY: A new bearish sentiment.

September 4, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1214 1.1306 1.1370
Support 1.1058 1.0994 1.0902
Primary Scenario A strong bearish movement led EURUSD below the daily pivot point (1.1150). A persistent trading below this key level will push the pair to hit the support level at 1.1058 and further down to 1.0994.
Alternative Scenario A successful attempt to exceed the daily pivot will lift the exchange rate towards the resistance level at 1.1214.

 

 

GBPUSD H4
Resistance 1.5305 1.5356 1.5400
Support 1.5210 1.5167 1.5116
Primary Scenario GBPUSD is following a downtrend. Should the pair achieve to violate the support level at 1.5210, it will find support at 1.5167.
Alternative Scenario On the other hand, a higher thrust of the market would trigger the market to surpass the daily pivot (1.5261). The next resistance is seen at 1.5305.

 

 

USDCHF H4
Resistance 0.9774 0.9816 0.9862
Support 0.9685 0.9639 0.9597
Primary Scenario USDCHF topped up at 0.9774, before closing below the daily pivot point at 0.9727. A deeper correction of the currency pair will push prices down to 0.9685 and then lower to 0.9639.
Alternative Scenario Alternatively, a surge of the market above the daily pivot will lead the pair to retest the hurdle at 0.9774.

 

 

USDJPY H4
Resistance 119.78 120.31 120.69
Support 119.08 118.45 117.62
Primary Scenario After the negotiation of the pair within the cloud, USDJPY managed to exit the Kumo with a new bearish sentiment. Further drop of the market will push the pair to breach the support at 119.08, with immediate target the level at 118.45.
Alternative Scenario An upward wave will fuel the pair to reach the resistance level at 119.78.

AUDUSD H4
Resistance 0.7054 0.7093 0.7125
Support 0.6984 0.6952 0.6913
Primary Scenario AUDUSD is now heading to retest the critical support level at 0.6952. A decisive movement to the south will push prices deeper towards the next target at 0.6913.
Alternative Scenario. Alternatively, a reversal back above the resistance at 0.6984 will lead the market towards the daily pivot point at 0.7023. RSI supports this outlook.

 

 

Article by ForexTime

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