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USDJPY: The bearish sentiment is still in force.

May 5, 2016

Article by ForexTime

EURUSD Technical AnalysisEURUSDH4Down Trend
Resistance1.15211.15561.1584
Support1.14571.14301.1394
Primary ScenarioEURUSD is trading slightly below the daily pivot point at 1.1493. A decisive movement to the south will lead the market down to 1.1457 and then lower at 1.1430.
Alternative ScenarioA surge of the exchange rate above the daily pivot will lift the market to retest the resistance at 1.1521.

EURUSDH4

GBPUSD Technical AnalysisGBPUSDH4up-trend
Resistance1.45551.46181.4665
Support1.44441.43971.4334
Primary ScenarioThe pair has just surpassed the daily pivot (1.4507). If GBPUSD achieves to extend its momentum, the next resistance is seen at 1.4555 and further up to 1.4618.
Alternative ScenarioAlternatively, a reversal back below the daily pivot will pave the path down to 1.4444.

GBPUSDH4

USDCHF Technical AnalysisUSDCHFH4up-trend
Resistance0.95980.96220.9656
Support0.95410.95070.9483
Primary ScenarioUSDCHF is heading towards the hurdle in line at 0.9598. Further bullish momentum of the exchange rate will trigger the market to exceed the said level, with immediate target the forthcoming resistance at 0.9622.
Alternative Scenario A comeback of the market below the daily pivot will push prices to find support at 0.9541.

USDCHFH4

USDJPY Technical AnalysisUSDJPYH4Down Trend
Resistance107.44108.19108.72
Support106.84106.11105.53
Primary Scenario The bearish sentiment is still in force. A successful violation of the support level at 106.84 will open the way down to 106.11.
Alternative ScenarioOn the other hand, an upward wave would fuel the pair to hit the barrier at 107.44 and even higher at 108.19.

USDJPYH4

AUDUSD Technical AnalysiAUDUSDH4up-trend
Resistance0.74970.75420.7567
Support0.74260.74010.7356
Primary ScenarioAUDUSD cleared the daily pivot point (0.7471) and the resistance level at 0.7497. If the pair manages to withhold the sellers’ pressure, the next target is estimated at 0.7542 and further up to 0.7567.
Alternative ScenarioA plunge of the pair below the support at 0.7497 will pave the path down to the daily pivot.

AUDUSDH4

 


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