USDJPY has entered the kumo.

May 27, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1222 1.1252 1.1289
Support 1.1155 1.1118 1.1088
Primary Scenario EURUSD is negotiating on the daily pivot point at 1.1185. A bounce up from current levels will fuel the pair to retest the hurdle at 1.2222 and even higher at 1.1252.
Alternative Scenario A break back below the daily pivot will pave the path down to 1.1155.

GBPUSD H4
Resistance 1.4722 1.4780 1.4821
Support 1.4623 1.4581 1.4524
Primary Scenario The pair edged up at 1.4738, before closing below the daily pivot (1.4681). A deeper correction of GBPUSD will push prices to find support at 1.4623 and further down to 1.4581.
Alternative Scenario Alternatively, a surge of the exchange rate above the daily pivot will lift the market towards 1.4722.

USDCHF H4
Resistance 0.9920 0.9952 0.9977
Support 0.9864 0.9839 0.9807
Primary Scenario USDCHF is gyrating the daily pivot at 0.9895. A decisive movement to the south will lead the currency pair down to 0.9864 and then lower at 0.9839.
Alternative Scenario A higher thrust of the market will trigger the market to hit the resistance level at 0.9920.

USDJPY H4
Resistance 109.99 110.19 110.57
Support 109.74 109.40 109.09
Primary Scenario The pair has entered the kumo. If the pair manages to withstand the sellers’ pressure, the next resistance is estimated at 109.99 and even higher at 110.19.
Alternative Scenario On the other hand, a plunge of USDJPY below the key support at 109.74 will open the way down to 109.40.

AUDUSD H4
Resistance 0.7256 0.7290 0.7338
Support 0.7174 0.7126 0.7092
Primary Scenario AUDUSD is trading slightly above the daily pivot (0.7208). Should a breakout occur, the pair will penetrate the hurdle at 0.7256, with immediate target the resistance level at 0.7290.
Alternative Scenario A comeback of the currency pair will lead the market below the daily pivot, targeting the support level at 0.7174.

 

Article by ForexTime

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