USDJPY : Fresh higher grounds.

April 22, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1365 1.1445 1.1493
Support 1.1238 1.1189 1.1110
Primary Scenario EURUSD is hovering below the daily pivot point at 1.1317. Any forceful attempt to retest the support at 1.1238 will push prices to target the next level at 1.1189.
Alternative Scenario A higher thrust of the market above the daily pivot will encourage the exchange rate to hit the resistance at 1.1365.

GBPUSD H4
Resistance 1.4407 1.4493 1.4548
Support 1.4266 1.4212 1.4125
Primary Scenario The pair is negotiating slightly below the daily pivot (1.4352). A plunge of GBPUSD will pave the path down to 1.4266 and then lower at 1.4212.
Alternative Scenario On the other hand, a successful attempt to exceed the daily pivot will fuel the pair to target the resistance level at 1.4407.

USDCHF H4
Resistance 0.9785 0.9821 0.9891
Support 0.9680 0.9611 0.9575
Primary Scenario USDCHF finished its correction course in the previous session and managed to cross the daily pivot point at 0.9716. If the pair achieves to extend its uptrend, the next resistance is seen at 0.9785 and 0.9821.
Alternative Scenario A comeback of the exchange rate below the daily pivot, will push the pair to find support at 0.9680.

USDJPY H4
Resistance 110.18 110.66 111.06
Support 109.73 109.47 109.13
Primary Scenario A strong bullish movement led USDJPY into fresh higher grounds. Further increase of the rate will accelerate the pair to penetrate the hurdle at 110.18, with immediate target the forthcoming resistance at 110.66.
Alternative Scenario Alternatively, a tumble of the market below the key support at 109.73 will open the way down to 109.47.

AUDUSD H4
Resistance 0.7802 0.7869 0.7904
Support 0.7700 0.7665 0.7598
Primary Scenario AUDUSD collapsed in the previous session. If the bears manage to take control of the bulls, the market will attempt to target the support level at 0.7700 and further down to 0.7665.
Alternative Scenario A reversal back above the daily pivot (0.7767) would lift the currency pair towards the resistance level at 0.7802.

 

Article by ForexTime

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