USDJPY bottomed at 118.05.

October 16, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1467 1.1546 1.1598
Support 1.1335 1.1283 1.1204
Primary Scenario EURUSD edged up at 1.1494, before closing below the daily pivot point at 1.1415. If the pair manages to break below the support level at 1.1335, the next target is seen at 1.1283.
Alternative Scenario An upward wave would lead the exchange rate above the daily pivot, with immediate target the resistance at 1.1467.

 

 

GBPUSD H4
Resistance 1.5500 1.5550 1.5593
Support 1.5407 1.5364 1.5313
Primary Scenario The pair is negotiating near the previous top, slightly below the hurdle at 1.5500. A decisive movement to the north will generate strength for the market to penetrate this level, targeting the resistance at 1.5550.
Alternative Scenario Alternatively, a plunge of GBPUSD below the daily pivot (1.5474) will push prices to find support at 1.5407.

 

 

USDCHF H4
Resistance 0.9542 0.9585 0.9618
Support 0.9466 0.9432 0.9389
Primary Scenario USDCHF has achieved to surpass the daily pivot at 0.9509. A bounce up from current levels will most likely bring the market into a correction course towards the resistance levels at 0.9542 and 0.9585.
Alternative Scenario Should the pair manage to breach the daily pivot, the next support is seen at 0.9466.

 

 

USDJPY H4
Resistance 119.24 119.61 120.04
Support 119.04 118.61 118.05
Primary Scenario The pair bottomed at 118.05, before the correction up to 119.24. A fruitless attempt for further correction, will push USDJPY to violate the support at 119.04, opening the way down to 118.61.
Alternative Scenario On the other hand, a successful attempt to exceed the hurdle at 119.24 will lift the currency pair towards the lower level of the cloud at 119.61.

AUDUSD H4
Resistance 0.7369 0.7414 0.7466
Support 0.7271 0.7219 0.7173
Primary Scenario AUDUSD is trading slightly above the support level at 0.7271. A tumble of the market will lead the pair to breach this level, targeting the forthcoming support at 0.7219 and further down to 0.7173.
Alternative Scenario. A higher thrust of the exchange rate will fuel the pair to penetrate the daily pivot (0.7317). The next resistance is seen at 0.7369.

 

 

Article by ForexTime

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