USDJPY: A new bearish outlook is now in force.

April 4, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1439 1.1489 1.1542
Support 1.1336 1.1283 1.1233
Primary Scenario EURUSD topped up at 1.1439, before closing below the daily pivot point at 1.1386. Further drop of the market will push prices down to 1.1336 and even lower at 1.1283.
Alternative Scenario A higher thrust of the pair would lift the exchange rate above the daily pivot, with immediate target the resistance at 1.1439.

GBPUSD H4
Resistance 1.4338 1.4454 1.4538
Support 1.4137 1.4053 1.3937
Primary Scenario The pair is negotiating slightly below the daily pivot at 1.4254. If the pair achieves to extend its bearish momentum, it will target the forthcoming support levels at 1.4137 and 1.4053.
Alternative Scenario On the other hand, an upward wave will lead GBPUSD above the daily pivot, targeting the resistance at 1.4338.

USDCHF H4
Resistance 0.9614 0.9655 0.9685
Support 0.9544 0.9513 0.9473
Primary Scenario USDCHF bottomed at 0.9554, before retracing above the daily pivot (0.9584). Should the pair manage to exceed the hurdle at 0.9614, the next resistance is seen at 0.9655.
Alternative Scenario A comeback of the currency pair below the daily pivot will open the way down to 0.9544.

USDJPY H4
Resistance 111.79 112.20 112.64
Support 111.30 111.01 110.65
Primary Scenario A new bearish outlook is now in force. If the pair manages to extend its downtrend, it will violate the barrier at 111.30 and the next support is estimated at 111.01 and even lower at 110.65.
Alternative Scenario Alternatively, a reversal back above the hurdle at 111.79 will trigger the market to retest the lower level of the Kumo at 112.20.

AUDUSD H4
Resistance 0.7717 0.7759 0.7818
Support 0.7615 0.7556 0.7514
Primary Scenario AUDUSD is oscillating around the daily pivot point (0.7657). Any forceful attempt to breach the key support at 0.7615 will push the pair to find support at 0.7556.
Alternative Scenario A surge of the pair above the daily pivot will fuel the market to hit the next resistance at 0.7717.

 

Article by ForexTime

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