USDJPY: The strength of the market faded.

April 26, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1290 1.1313 1.1350
Support 1.1229 1.1193 1.1169
Primary Scenario EURUSD bounced up from the previous bottom and is now negotiating slightly above the daily pivot at 1.1253. Should the pair manage to withstand the sellers’ pressure, it will retest the hurdle at 1.1290 and then higher at 1.1313.
Alternative Scenario A plunge of the currency pair below the daily pivot will lead the exchange rate down to 1.1229.

GBPUSD H4
Resistance 1.4531 1.4583 1.4647
Support 1.4415 1.4350 1.4298
Primary Scenario The pair has reached fresh grounds in the previous session. Further bullish momentum will most likely fuel the pair to climb towards the resistance level at 1.4531 and even higher at 1.4583.
Alternative Scenario On the other hand, a break back below the daily pivot will open the way down to 1.4415.

USDCHF H4
Resistance 0.9779 0.9810 0.9831
Support 0.9726 0.9704 0.9674
Primary Scenario USDCHF is oscillating around the daily pivot at 0.9757. A decisive movement to the north will accelerate the pair to hit the barrier at 0.9779 and further up to 0.9810.
Alternative Scenario A reversal back below the daily pivot will pave the path down to 0.9726.

USDJPY H4
Resistance 111.33 111.85 112.48
Support 110.81 110.28 109.81
Primary Scenario The strength of the market faded and USDJPY is moving sideways this week. A successful attempt to penetrate the key level at 111.33 will trigger the market towards 111.85 and then higher at 112.48.
Alternative Scenario Alternatively, a breach of the important support at 110.81 will push prices to find support at 110.28.

AUDUSD H4
Resistance 0.7730 0.7748 0.7768
Support 0.7693 0.7672 0.7655
Primary Scenario AUDUSD is gyrating the daily pivot point at 0.7710. If the pair manages to extend its downtrend, the next support is seen at 0.7693 and then lower at 0.7672.
Alternative Scenario A higher thrust of the market will lead the pair to cross above the daily pivot, with immediate target the resistance at 0.7730.

 

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

9 years ago