USDJPY: The bearish sentiment is still in force.

May 5, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1521 1.1556 1.1584
Support 1.1457 1.1430 1.1394
Primary Scenario EURUSD 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 Scenario A surge of the exchange rate above the daily pivot will lift the market to retest the resistance at 1.1521.

GBPUSD H4
Resistance 1.4555 1.4618 1.4665
Support 1.4444 1.4397 1.4334
Primary Scenario The 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 Scenario Alternatively, a reversal back below the daily pivot will pave the path down to 1.4444.

USDCHF H4
Resistance 0.9598 0.9622 0.9656
Support 0.9541 0.9507 0.9483
Primary Scenario USDCHF 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.

USDJPY H4
Resistance 107.44 108.19 108.72
Support 106.84 106.11 105.53
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 Scenario On the other hand, an upward wave would fuel the pair to hit the barrier at 107.44 and even higher at 108.19.

AUDUSD H4
Resistance 0.7497 0.7542 0.7567
Support 0.7426 0.7401 0.7356
Primary Scenario AUDUSD 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 Scenario A plunge of the pair below the support at 0.7497 will pave the path down to the daily pivot.

 

Article by ForexTime

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