USDJPY collapsed in today’s session.

June 16, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1307 1.1356 1.1415
Support 1.1199 1.1140 1.1091
Primary Scenario EURUSD is heading towards the resistance level at 1.1307. Should a breakout occur, the pair will attempt to reach the forthcoming level at 1.1356 and further up to 1.1415.
Alternative Scenario A plunge of the market below the daily pivot (1.1248) will push prices to find support at 1.1199.

GBPUSD H4
Resistance 1.4250 1.4299 1.4381
Support 1.4119 1.4037 1.3988
Primary Scenario The pair is gyrating the daily pivot point at 1.4168. A decisive movement to the south will most likely lead GBPUSD down to 1.4119 and then lower at 1.4037.
Alternative Scenario Alternatively, an upward wave would lift the exchange rate above the daily pivot, with immediate target the resistance at 1.4250.

USDCHF H4
Resistance 0.9654 0.9694 0.9726
Support 0.9581 0.9549 0.9508
Primary Scenario USDCHF is now testing the key support level at 0.9581. A successful violation of this level will push prices down to 0.9549 and then lower at 0.9508.
Alternative Scenario A higher thrust of the pair above the daily pivot will trigger the market to retest the hurdle in line at 0.9654.

USDJPY H4
Resistance 104.26 104.70 105.13
Support 103.95 103.52 103.02
Primary Scenario The pair collapsed in today’s session. If USDJPY manages to extend its bearish momentum and breach the barrier at 103.95, the next support is seen at 103.52 and further down to 103.02.
Alternative Scenario On the other hand, a correction course would fuel the pair towards 104.26 and then higher at 104.70. RSI supports this outlook.

AUDUSD H4
Resistance 0.7456 0.7507 0.7568
Support 0.7344 0.7283 0.7232
Primary Scenario AUDUSD is oscillating around the daily pivot point at 0.7395. A downward wave would lead the currency pair to hit the support at 0.7344 and further down to 0.7283.
Alternative Scenario If the pair achieves to penetrate the daily pivot, it will climb towards 0.7456.

 

Article by ForexTime

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